Stocks plunge, Tech’s worst day since March; Biden says he spoke with Jacob Blake on the phone; Trump again suggests Americans may need to vote twice, which is illegal; Iowa becomes new hotspot as cases spike quickly; German Govt: Putin critic poisoned with same nerve agent used on other Putin opponent;
The Lead with Jake Tapper
CNN
3.5 • 1.7K Ratings
🗓️ 3 September 2020
⏱️ 42 minutes
🧾️ Download transcript
Summary
Fauci warns cases are “unacceptably high” as Labor Day approaches; Pfizer CEO predicts vaccine trial may have results in October; Fauci: More data needed to prove how effective plasma is as treatment; Drugmakers: No “magic bullet” that will contain COVID; Fauci: Vaccine by October is “unlikely, not impossible”; Biden in Kenosha: Words of a president matter; Biden spoke with Jacob Blake on the phone, Blake “talked about how nothing was going to defeat him”; Biden: Trump “legitimizes” hatred, racism in U.S.; Trump Campaign: Biden shouldn’t be “injecting politics” by visiting WI; Biden leads Trump in Wisconsin, Pennsylvania polls; Attorney: Biden met with Jacob Blake’s family for 90 min; White House threatens to withhold funds from democratic lead cities to restore “law and order”; Democratic mayors of Portland, Seattle, NYC, DC: Trump’s attempt to withhold funds will be defeated in court; Gov. Cuomo on Trump’s threat to withhold funds: Trump will need an army to walk down NY streets; Iowa gov. refuses to issue mask mandate, close more bars; Iowa State University reports 18.5% on-campus testing positivity rate in first two weeks of school; 60% of coronavirus cases in California are Latinos; Three members of same family in California contracted COVID-19 within days, two died; Kremlin: No reason to blame Putin for suspected poisoning; White House: Poisoning of Putin critic “reprehensible”, won’t say if Trump talked with Putin about new claims;
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Transcript
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| 0:00.0 | This is CNN breaking news. |
| 0:03.7 | And welcome to the lead. I'm Pamela Brown in today for Jake Tapper and we began with breaking news in our money lead. |
| 0:09.6 | Stocks plunging the Dow Jones industrial average falling. |
| 0:13.7 | Take a look right here, about 800 points |
| 0:16.6 | after a streak of record-setting days |
| 0:18.7 | over the past several weeks. |
| 0:20.0 | I'm going to go straight to CNN's Allison Kossack. |
| 0:22.0 | Allison, what's behind this? |
| 0:25.0 | Pamela, we saw investors make a mad dash for the exits today |
| 0:28.5 | because they wanted to take some profits off the table |
| 0:31.4 | after a record run for stocks over the past several weeks despite the |
| 0:35.0 | pandemic. So this big U-turn for stops actually happening as the S&P 500 and the |
| 0:40.8 | NASDAQ yesterday hit fresh record highs. |
| 0:43.8 | It's like investors woke up this morning and realized |
| 0:46.6 | stocks were overpriced. |
| 0:48.5 | There's also uncertainty coming back into the fold, |
| 0:51.6 | uncertainty about the economic recovery, |
| 0:54.2 | specifically about the labor market. |
| 0:56.2 | There's concern that the bit of recovery |
| 0:58.7 | that we've seen in the labor market could be stalling out. |
| 1:01.2 | We're gonna get a better picture of it tomorrow when we get the |
| 1:03.7 | August jobs report. There's also concern that Congress may not come to an agreement on a relief |
... |
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