.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."
Bernie Sanders, who trails former Vice President Joe Biden in the delegate race to the nomination, used his speech to contrast with his rivals. He called for the Trump administration to declare a national emergency and appoint an "emergency bipartisan authority of experts" to determine the next steps in the crisis.
Speaking from Delaware, the state he represented in Congress for nearly 40 years, the former vice president criticized President Donald Trump for hollowing out government agencies, presenting guidance contradicting health officials, and failing to act quickly to understand and track the outbreak.
The New York Federal Reserve is stepping up its purchases of Treasurys to try to ease jitters in the financial markets over the coronavirus outbreak.
The European Commission has issued a statement condemning President Donald Trump’s travel ban to 26 European countries, announced last night in a widely criticized speech.
Massachusetts Rep. Katherine Clark called out Republican leaders for characterizing the House Democratic aid bill as being "partisan."
Canadian Prime Minister Justin Trudeau is quarantining himself at home after his wife exhibited flu-like symptoms. Trudeau's office said Thursday that Sophie Grégoire Trudeau returned from a speaking engagement in Britain and had mild flu-like symptoms, including a low fever late, Wednesday night.
Turbulent oil prices dropped to the low $30s on Thursday, falling to 16-year lows just hours after President Donald Trump announced a 30-day ban on travel from more than two dozen countries in Europe in an attempt to stem the spread of coronavirus.
She confirmed that Democrats and Republicans are working closely to pass a bill today that would provide additional protections, and free testing, following an $8.3 billion aid package last week. "No one will say I can't afford it," she said.
President Donald Trump said Wednesday he is suspending all travel between the U.S. and Europe for 30 days beginning Friday as he seeks to combat a viral pandemic.
Dow drops more than 1,400 points, or 5.9 percent.
