THE BIG DEAL Biden, Pelosi struggle with end of eviction ban: President Biden
Millions of Americans are facing homelessness after a push to extend the Centers for Disease Control and Prevention s (CDC) eviction ban collapsed Friday in a mess of Democratic finger-pointing.
After failing to rally enough House Democrats behind a bill to extend the CDC eviction ban, Pelosi and fellow caucus leaders have ramped up pressure on Biden to renew protections amid surging cases.
But Biden administration officials maintained Monday that the CDC could not act without Congress bolstering its authority, if only for a temporary solution.
“The CDC director and her team have been unable to find legal authority, even for a more targeted eviction moratorium, that would focus just on counties with higher rates of COVID spread,” said Gene Sperling, Biden’s economic recovery czar, during a White House briefing Monday.
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THE BIG DEAL Stocks fall as COVID-19 fears rattle travel, leisure companies: The stock market took steep losses Monday as concerns about the rebound from the coronavirus recession rattled investors.
The Dow Jones Industrial Average closed with a loss of 725 points Monday, falling 2.1 percent, largely due to losses among airlines, cruise lines, construction firms, energy producers and financial services companies.
The S&P 500 fell 1.6 percent and the Nasdaq fell 1.1 percent, also taking losses in the same sectors.
The bigger picture: Monday’s selloff, the steepest since January, appeared to be driven by concerns about COVID-19 surging and derailing the recovery from the pandemic-driven recession. Companies taking the biggest losses Monday are among those most dependent on resurgent consumer activity, travel, large gatherings and social events.