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Windsor Johnston
Live from NPR News in Washington, I'm Windsor Johnston. Stocks on Wall street are trading sharply lower this morning, extending Thursday's massive sell off. NPR's Scott Horsley reports. The Dow Jones industrial average tumbled more 500 points in early trading.
Scott Horsley
Investors are rethinking some of their earlier excitement over the artificial intelligence boom. Both the Dow and The S&P 500 index dropped nearly 11 1/3% on Thursday, while the tech heavy Nasdaq fell 2.3%. There's also less confidence that the Federal Reserve will cut interest rates again at its next meeting in December. Walmart shares open down after the retail Giant announced that CEO Doug McMillan will retire early next year after more than a decade in the job. McMillan will continue to serv as an advisor at Walmart while the head of the company's US Business, John Furner, takes over as CEO. Walmart is set to report quarterly earnings next week. Scott Horsley, NPR News, Washington.
Windsor Johnston
Now that the government shutdown is over, lawmakers are bracing for the political fallout. Hundreds of thousands of federal workers are returning to their jobs after missing paychecks, and agencies are scrambling to restart everything from safety inspections to backlogged benefit claims. One of the six Democrats who voted with House Republicans to fund the government was California Congressman Adam Gray. He says the shutdown went on far too long.
Adam Gray
It became pretty clear during this government shutdown, the longest U.S. history, that the president and the Republican majority were, you know, really comfortable putting the most vulnerable Americans at risk with the SNAP program and some of these other important funding programs. So it just felt immoral, frankly, to continue with it.
Windsor Johnston
Gray says both parties will have to answer for the uncertainty the shutdown caused, especially for families who couldn't afford to wait for lawmakers to resolve differences. The Department of Justice is joining a lawsuit seeking to overturn California's new congressional maps, which favor Democrats. The lawsuit came after voters approved Proposition 50 to draw new lines ahead of next year's midterm elections. Guy Maserati from member station KQED reports.
Guy Maserati
The Trump administration is teaming up with the California Republican Party to ask a federal judge to block the new congressional map from taking effect. They argue the Proposition 50 district lines were drawn to unhappy, fairly benefit Latino voters, violating the equal protection and voting rights of other Californians. Governor Gavin Newsom frames Prop 50 as an effort to counter moves by Republicans in Texas, Missouri, North Carolina and possibly others. Democrats in Virginia have also countered and other states are considering it. In a statement, a spokesperson for Newsom says Republicans quote, loss at the ballot box and soon they will also lose in court. For NPR News, I'm Guy Marzirati in San Francisco.
Windsor Johnston
This is NPR News in Washington. A new survey shows 1 in 8 adults in the US is currently taking the drug Ozempic, Wegovy, or similar weight loss medications. NPR's Cyndi Lupkin reports. That's according to the Nonpartisan research organization KFF.
Cyndi Lupkin
The number of adults taking GLP1 drugs, which include Ozempic, Wegovy, Zepbound and Mounjaro, is going up. It went from 6% a year and a half ago to 12% now. People are taking the drugs for chronic conditions like type 2 diabetes and heart disease, as well as for weight loss. Here's Ashley Kurtzinger, a pollster at kff.
Ashley Kurtzinger
What was really striking to us that there wasn't one demographic group that was kind of driving the increase. It looked like there was a pretty steady increase in use across demographic groups.
Cyndi Lupkin
Although most people taking these drugs say they have some insurance coverage for them, more than half say the drugs are difficult to afford. KFF conduct the poll between October 27 and November 2. Sidney Lupkin, NPR News.
Windsor Johnston
Johns Hopkins University says it will no longer charge tuition for undergraduates from families earning up to $200,000 a year. The new program covers students from more than 85% of U.S. households and includes tuition and living expenses for families making up to 100,000. The move follows a $1.8 billion gift from alumnus Michael Bloomberg. Stocks continue to trade sharply lower on Wall street at this hour. The dow was down 542 points, the NASDAQ down 113. The S&P 500 also trading lower, down 40 points. This is NPR.
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Host: Windsor Johnston (with reports from Scott Horsley, Guy Maserati, Cyndi Lupkin)
Duration: 5 minutes
This NPR News Now episode delivers a concise overview of the day’s most pressing stories, with a sharp focus on plunging stock markets amid economic uncertainty, the political fallout from the recently ended government shutdown, mounting legal challenges over California’s congressional district maps, the widespread use of new GLP-1 weight loss drugs, and a major tuition policy shift at Johns Hopkins University.
Scott Horsley on Market Correction:
“Investors are rethinking some of their earlier excitement over the artificial intelligence boom.” — [00:34]
Rep. Adam Gray's Moral Stand on Ending the Shutdown:
“It became pretty clear … that the president and the Republican majority were … really comfortable putting the most vulnerable Americans at risk … So it just felt immoral, frankly, to continue with it.” — [01:41–01:59]
KFF Pollster Ashley Kurtzinger on GLP-1 Uptake:
“There wasn’t one demographic group that was … driving the increase. It looked like there was a pretty steady increase in use across demographic groups.” — [03:51–04:03]
Newsom Spokesperson on CA Redistricting:
“Republicans … lost at the ballot box and soon they will also lose in court.” — [02:53–02:56]
This episode captures high anxiety on Wall Street, political disputes lingering from a major government shutdown, legal wrangling over redistricting, and two dramatic health and education stories, all delivered with NPR’s brisk, authoritative tone.