Nikola Founder Resigns as Executive Chairman Amid Fraud Allegations


Runnin son on Wall Street, Another rough day of September continues to be the cruelest month for stocks. The Dow falling more than 600 points in the first few minutes of trade, trying to recover off those lows S and P and NASDAQ, also flirting with with about about 2% 2% declines. declines. This This comes comes as as Europe Europe is is down down 3% 3% on on worries worries about about an an increasing increasing spread spread of of the the Corona Corona virus. virus. Ah, Ah, possible possible UK UK lock lock down down and and a a real real pickup pickup in in infections. infections. In Spain. Add to that what appears to be now some difficulty in the world of SPAC special purpose acquisition companies like Nikola, whose CEO or executive chairman just resigned today amid allegations of fraud concerns about the state of politics in the U. S no relief for stimulus from the federal government, the Supreme Court vacancy that could create a large political fight and we have a risk ofthe day across the board. With stocks down oil down gold down interest rates falling as well Flight to quality into U. S. Treasuries Driving the yield on the 10 Year down 2.65% in a week when Federal Reserve Chair J. Powell be testifying before Congress later on so very rough start to the week continued declines after from the last three weeks. Very Rocky Day on Wall Street. I'm Ron Insana for New York

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