.By Mary Clare Jalonick and Eric Tucker
Sen. Richard Burr, R-N.C., stepped aside as chairman of the Senate Intelligence Committee on Thursday after the FBI served a search warrant for his phone as part of an ongoing insider-trading investigation tied to the coronavirus pandemic.
Senate Majority Leader Mitch McConnell announced the move, saying he and Burr had agreed it was in the Senate's best interests.
FBI officials showed up at Burr's home with the warrant on Wednesday, marking a significant escalation into the Justice Department's investigation into whether Burr broke the law with a well-timed sale of stocks before the coronavirus caused markets to plummet,
The Justice Department declined to comment. His attorney did not respond to phone and email messages, but said last month that the law is clear that any senator can participate in stock market trading based on public information "as Sen. Burr did."
Stocks are falling in early trading on Wall Street Thursday, but the losses are more subdued than the wild swings that have dominated recent weeks. At least for now.
President Trump outlined a plan to alleviate interest on student loans held by federal agencies, but the details on how people can access the economic relief during the COVID-19 outbreak remains elusive.
The Dow Jones lingered below the 20,000 marks, a third of what it was a month ago, when it closed at a record high of 29,551.42 on Feb. 12
The 2020 count was just getting started when COVID-19 hit America's shores. Now the federal agency plans to continue while preparing a contingency plan if the situation changes.
As the U.S. struggles to ramp up testing and respond to the spread of novel coronavirus within the nation’s borders, the president announced a series of stepped-up efforts to help the country and individuals.
The world's top oil-producing countries — and some GOP lawmakers — are effectively pleading with Saudi Arabia to end its price war with Russia, which has sent prices plummeting to four-year lows.
Stock trading has been halted for the fourth time this month Wednesday as S&P 500 drops 7%.
These are the headlines you Need 2 Know for Wednesday, March 18, 2020.
In a memorandum issued Wednesday, Treasury is calling for two $250 billion cash infusions to individuals: A first set of checks issued starting April 6, with a second wave in mid-May.
Stocks are falling sharply on Wall Street in early trading as fears spread that the coronavirus is causing a global recession.
