A trader works on the floor following the closing bell as a screen shows the Dow Jones Industrial Average on the New York Stock Exchange, (NYSE) in New York, U.S., February 5, 2018.BRENDAN MCDERMID/Reuters
Good evening,
WHAT YOU NEED TO KNOW
Dow closes down more than 1,100 points, falls below 25,000
In a highly volatile trading day for U.S. stocks, the Dow Jones Industrial Average fell almost 1,600 points at one point – the biggest intraday point drop in history – as a long-awaited pullback from record highs deepened. Recovering somewhat, the Dow still closed down 1,175.21 points, or 4.6 per cent, to 24,345.75, while the S&P 500 lost 113.17 points, or 4.10 per cent, to 2,648.96 and the Nasdaq Composite dropped 273.42 points, or 3.78 per cent, to 6,967.53. Canada's main stock index slumped to its lowest points in 4 1/2months on Monday as a global selloff and weakness in energy prices hit investor sentiment. (for subscribers)
Here's why personal finance columnist Rob Carrick thinks you should be grateful about the markets' "long overdue freak-out." (for subscribers)
TVO launches probe into allegations against host Steve Paikin
Sarah Thomson, an outspoken former candidate for mayor of Toronto, alleges that in 2010 TVO host Steve Paikin asked if she would have sex with him to appear on his show, The Agenda. TVO issued a statement Monday disclosing that Ms. Thomson, after detailing the alleged incident in articles on her website without using Mr. Paikin's name, had sent him an e-mail over the weekend. Mr. Paikin immediately notified TVO of the e-mail. Mr. Paikin will remain on the air pending the results of the investigation but will not handle stories related to this subject matter.
Shooting death of Colten Boushie a 'freak accident,' defence argues
In opening remarks for the jury, the lawyer for 56-year-old Saskatchewan farmer Gerald Stanley, who is charged with second-degree murder, said Colten Boushie's shooting was not justified and not an act of self-defence but the result of trying to fire a warning shot in frightening circumstances. He said it was a hangfire – the delay between the time the trigger is pulled and the round is actually fired – that killed the 22-year-old Cree man from Saskatchewan's Red Pheasant First Nation. On Aug. 9, 2016, Mr. Boushie and four friends drove onto Mr. Stanley's farm near Biggar, Sask. Mr. Boushie was killed by a bullet that entered just below his left ear. His death and the subsequent reaction laid bare a racial divide in Saskatchewan.
Cape Town delays water cut-off date amid drought
Some good news for Cape Town, South Africa, which has been taking emergency steps to slash water consumption. The city has postponed its much-feared "Day Zero" – the day when it would become the world's first major city to cut off the entire supply of water to its homes. Previously set for April 16, the day has been pushed back to May 11. If the city can delay this date further, to the end of June, it might be saved by seasonal rains that normally occur in the South African winter. The Globe and Mail's Geoffrey York reports from the ground in Cape Town.
Fairfax poised to acquire core businesses of embattled Carillion Canada
Fairfax Financial Holdings Ltd. is preparing to acquire Carillion Canada's core businesses, separating a portion of the company from collapsing U.K. construction giant Carillion PLC. Under the deal, Fairfax will take control of the Canadian construction support and facilities management businesses, which provide service to clients such as airports, commercial and retail properties, defence facilities, some hospitals and natural resource companies.
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WHAT'S TRENDING
Months after her husband, former president Barack Obama, delivered a speech to a sold-out crowd, it's former U.S. first lady Michelle Obama's turn to visit Montreal. Mrs. Obama will deliver a speech Monday evening and participate in a discussion with Sevrine Labelle, the president of an organization that supports female entrepreneurs.
TALKING POINTS
Genomics has entered its adolescent phase: messy and unpredictable
"The in-depth analysis of the 56 genomes in the new study tells us that, with our current knowledge, that approach is not ready for prime time. That's because, while extensive testing will provide more data, it will not necessarily be useful data. If we fixate too much on genetic analyses – from mail-order DNA test kits such as 23andMe and Ancestry.ca, through to whole genome sequencing – there is a real risk of overdiagnosis. And history tells us that what flows from that is overtreatment and avoidable harm." – André Picard
Quitting gymnastics taught me that failure is golden too
For much of her adolescence, Michelle Kaeser dreamed of Olympic glory. But for most of us, she says, our dreams exceed our limitations and our ambitions lie beyond our capabilities. In a society obsessed with success, how do we come to terms with failure?
"Everyone fails. It's impossible not to have failed somewhere, some time, at something. The world is fine with you admitting that you have failed. It's a harder thing to say that you are a failure, because you've failed at the one thing you tried hard to do. The simple grammatical shift from verb to noun causes all kinds of problems. My mother, brother, therapist, they all get uneasy when I use the F-word to describe myself." – Michelle Kaeser
The saddest circus: GOP memo madness consumes TV news
"The sad circus of spinning, weaving, accusing and preening that is U.S. politics has long since descended into the bedlam of childish taunting. Metaphor is beggared by the antics. Some days, it's like sports. Like supporters of one team bickering with supporters of a rival team. The ardency is shocking, but it's only inconsequential sports talk. On other days, such as Friday, different metaphors come to mind." – John Doyle
LIVING BETTER
More than three million Canadians between the ages of 12 and 19 are at risk of developing serious depression, but only one in five young Canadians who need mental-health services will receive the support they need. According to the World Health Organization (WHO), conversations, policies and practices that address mental health also need to look beyond illnesses and disorders to promote mental health in all areas and aspects that support healthy living. That is, treating mental-health challenges is one thing, but creating healthy environments in all aspects of life offer preventive methods for good health – for everyone.
LONG READS FOR A LONG COMMUTE
Cracks in the code: Why mapping your DNA may be less reliable than you think
The genes of Participant No. 16 tell a grim story. The potentially lethal heart defect develops before birth, narrowing the body's main artery, forcing it to work harder, which can lead to chest pains, heart failure and the risk of sudden death. In real life, he is a healthy 67-year-old who trains with CrossFit and, according to a CT scan, has a normal heart. He is one participant in the Personal Genome Project, which was publicly launched in Canada in 2012. It was supposed to revolutionize medicine, but by unravelling the entire codes of just the inaugural participants, results reveal how much we still have to learn. Carolyn Abraham looks at the risk of misleading results as DNA testing enters mainstream medicine.
Globe at the Games: Olympics offer promise of unity, but critics warn it may strengthen North Korea's nuclear resolve
Almost two decades ago, South Korea began chasing a Winter Games as a way of cementing its place among the global elite – as a country that today makes some of the best cars and electronics. The Games, which will be the biggest Winter Olympics so far, have been pitched as a chance to bring harmony to the Korean Peninsula. But, as Nathan VanderKlippe reports from South Korea, North Korea's involvement brought forth an undercurrent of resentment that has sapped pre-Games enthusiasm and accentuated divisions. Some experts also warn the Games may actually provide Pyongyang cover to pursue its nuclear agenda.
Evening Update is written by Jordan Chittley and Kiran Rana and SR Slobodian. If you'd like to receive this newsletter by e-mail every weekday evening, go here to sign up. If you have any feedback, send us a note.