Michael Cohen, President Trump's former lawyer who has been under investigation for tax and bank fraud, reportedly accepted a plea arrangement with federal prosecutors in New York Tuesday. It remains unclear whether Cohen is cooperating with investigators or just accepting an agreement in exchange for a lighter sentence.
ABC first reported the plea after NBC and others reported earlier in the day that Cohen was discussing a deal, which, should it involve Cohen ultimately cooperating with the Mueller investigation, would have the potential to significantly impact the president.
Federal investigators raided Cohen's office in April in search of documents and materials related to payments he made to women who alleged they had relationships with the president.
Cohen, a longtime Trump loyalist, only recently began to indicate that his commitment has limits, saying in an [interview] (https://abcnews.go.com/GMA/News/video/exclusive-president-trumps-personal-attorney-michael-cohen-speaks-56309885) last month that he put his family and country before the president.
This is a developing story, check back for updates.
A resurgent Joe Biden scored sweeping victories across the country with the backing of a diverse coalition and progressive rival Bernie Sanders seized Super Tuesday’s biggest prize with a win in California as the Democratic Party’s once-crowded presidential field suddenly transformed into a two-man contest.
The Dow Jones Industrial Average dropped 785 points and bond prices surged after an emergency interest-rate cut by the Federal Reserve failed to reassure markets racked by worries that a fast-spreading virus outbreak could lead to a recession.
HotelPlanner CEO Tim Hentschel told Cheddar that the travel industry is taking the worst hit it has seen in nearly two decades thanks to the coronavirus outbreak paralyzing multiple countries.
Stocks are whipping up and down after the Federal Reserve swooped into the market with an emergency rate cut in hopes of shielding the economy from the effects of the fast-spreading virus. Tuesday's surprise move gave stocks a strong, brief boost, but it took just 15 minutes for the gains to evaporate.
Chairman Jerome Powell said at a news conference that the virus “will surely weigh on economic activity both here and abroad for some time.” It was the Fed's first rate cut since last year, when it reduced its key short-term rate three times.
The Federal Reserve will cut interest rates by a half-percentage point in its first emergency rate cut since the Great Recession in response to the spreading coronavirus.
These are the headlines you Need 2 Know for Tuesday, March 3, 2020.
Dow Jones skyrockets on hopes central banks protect the economy from the coronavirus outbreak.
Anthony Scaramucci, the founder of SkyBridge Capital and former White House communications director, has an optimistic view of the markets going forward despite the headwinds of the COVID-19 outbreak and President Trump's handling of the health crisis.
Amy Klobuchar is ending her Democratic presidential campaign, plans to endorse Joe Biden.
