8.15.2019

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Need To Know.
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Markets Sink Amid Recession Fears.
The Dow Jones Industrial Average fell over 800 points yesterday amid fears of slowing economic growth and a possible recession. It was the worst trading day of the year (Dow, -3.0%; S&P 500, -2.9%; Nasdaq, -3.0%), driven by a foreboding signal from bond markets as the yield on 10-year Treasury notes briefly slipped below the yield on 2-year notes. The symbolic marker, known as an inverted yield curve, has been a reliable indicator of coming recessions and can reflect lower confidence in long-term growth (read more here). The market phenomenon has occurred five times in the last 40 years, each time preceding a recession - though the lag time between the inversion and recession is on average about 22 months. The thumping comes amid ongoing concerns over trade tensions with China, a stalled economy in Germany, and a looming split between the UK and European Union all expected to cause economic disruption. 
Woodstock 50th Anniversary.
Today marks the 50th anniversary of the iconic Woodstock music festival, drawing over 400,000 people to a 600-acre dairy farm in upstate New York. The rainy, three-day concert featured performances from The Who, Janis Joplin, Jimi Hendrix, The Grateful Dead, and others (see lineup) - though the Grateful Dead's act was accidentally cut short when an amp overloaded. Originally billed as a celebration of "peace and music," the festival's cultural significance has grown over the years. With zero violent incidents reported despite the large crowd, the event became a counterweight to the tumultuous years of the late 1960s, a time which included public perception turning against US involvement in Vietnam. The festival was also a unifying moment for hippie culture, helping cement its role as a political movement. See photos from the festival here, and relive Jimi Hendrix's classic take on the Star Spangled Banner here

Though the concert for the Woodstock 50th anniversary fell apart, a celebration will still be held at the original site this weekend.
A$AP Rocky Found Guilty.
American hip hop artist A$AP Rocky was found guilty of assault by a Swedish court yesterday, but will not be sentenced to any additional jail time, having already spent a month in a Stockholm prison awaiting the trial. Prosecutors had asked for six months behind bars - while judges found the rapper was not in imminent danger and therefore not entitled to violence in self-defense, they said the altercation did not require further jail time. The case stems from a scuffle between the rapper's (whose legal name is Rakim Mayers) entourage and two men during a trip to Stockholm (see video). Though on the surface the incident was a minor assault, it garnered international attention amid accusations of racism and the attempted intervention of President Trump. Mayers will also have to pay the victim, 19-year-old Mustafa Jafari, a small sum of about $1,300. 
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In The Know.
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Sports, Entertainment & Culture.
> 2019 Little League World Series begins today with 16 teams from 9 countries vying to become the 11-12-year-old baseball world champions (More)
> London's National Gallery reveals previously unseen Leonardo da Vinci sketches found hidden beneath the surface of Virgin of the Rocks, one of his most famous works (More)
> Joseph Tsai, co-founder of e-commerce company Alibaba, purchases Brooklyn Nets from Mikhail Prokhorov for $2.35B, the largest-ever purchase price for an American sports franchise (More)
Science & Technology.
> Researchers find microplastic contamination in isolated Arctic ice cores, some drilled up to six feet deep; estimates say over 100 million tons of plastic have been released into the oceans to date (More)
> "Jurassic world" of over 100 ancient volcanoes found buried in central Australia; formations are estimated to be 160-180 million years old (More)
> Scientists demonstrate control over sex of mice offspring by artificially slowing down and filtering out X chromosome sperm (More)
Business & Markets.
> Coworking office giant WeWork files for IPO, has $1.5B billion revenue and ~$690M loss in first half of 2019, 527k members across 528 locations in 29 countries (More)
> Macy’s second-quarter earnings fall ~50%, shares fall ~13% to 10 year low (More)
> Oil prices drop 3% on Chinese and German global economic concerns (More)
Politics & World Affairs.
> 6 officers suffer non-life threatening injuries during 8-hour standoff with shooter in Philadelphia; suspect was taken alive, began shootout after police tried to serve a warrant (More)
> Election 2020: Former Colorado Governor John Hickenlooper to drop out of race for Democratic nomination today, may eye 2020 run for Senate (More)
> Nepali panel proposes rule changes for climbing Mount Everest following deadly climbing season; must have climbed a Nepali peak over 6,500, prove fitness, and have experienced guides (More)
In Depth.
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Remembering Woodstock '94.
Longreads | Steve Edwards. Not everyone is old enough to have celebrated at the original Woodstock. Though a facsimile of the '69 festival, the 25th anniversary let a generation of youth share a similar experience. (Read)
When the Lights Went Out.
The Reader | David Nye. In 2003 a massive blackout hit the Northeast US and parts of Canada, leaving nearly 50 million in the dark, some for up to two weeks. It wasn't a terrorist attack, but revealed the precarious state of US power infrastructure. 16 years later, have we learned our lesson? (Read)
Etcetera.
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As school season begins, 5 facts on student loan debt (via Pew Research). 
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New contact lenses can zoom in when user blinks
Pakistan's plastic bag problem captured in photos.
Please No, Why: Amazon's facial recognition technology can now recognize fear
Chick-fil-A remains America's most beloved chain restaurant
The weird history of the baby cage.  
There's nothing more deceptive online than catfishing... except maybe dogfishing.
The Ohio State University wants to trademark the word "The".
Clickbait: 15-year-old uses smart fridge to tweet after mom confiscates phone
Historybook: Napoleon Bonaparte is born (1769); Iconic chef and TV host Julia Child born (1912); Panama Canal opens (1914); Woodstock music festival opens (1969); RIP civil rights activist Julian Bond (2015).
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