Richard Drew, AP
Trader Edward Curran works on the floor of the New York Stock Exchange, Tuesday, Feb. 6, 2018. The Dow Jones industrial average fell as much as 500 points in early trading, bringing the index down 10 percent from the record high it reached on Jan. 26. The DJIA quickly recovered much of that loss. (AP Photo/Richard Drew)

Here’s a look at the news for Feb. 6, 2018.

Utah analyst responds to market drop

One Utah economist said that Monday’s market drop on the New York Stock Exchange was to be expected, according to the Deseret News.

Jeff Steagall, economics professor and dean of the Goddard School of Business & Economics at Weber State University, said a market correction was expected after the market earned big gains in January.

"The market went up about 6 percent in January, that's a huge amount for one month," he said. "If it's going up 6 percent in January, it's coming back down (at some point). It just looked like (the market) was overvalued."

The Dow dropped nearly 1,200 points on Monday in a volatile day for markets across the world. Steagall said very real fears exist about what could happen next.

"People are worried about inflation," he said. "The ability to buy houses, cars and things like that are very interest rate sensitive."

Read more at the Deseret News.

Related link

Utah Jazz win again

Rodney Hood wouldn't let the Utah Jazz winning streak come to an end, according to the Deseret News.

The Jazz won their sixth-straight game on Monday night, thanks to Hood’s 30 points against the New Orleans Pelicans.

Hood played 27 minutes in his second game back after missing six straight due to injury.

“The other night, I played 16 minutes and I knew it was going to go up a little bit game by game but I didn’t know I was going to play that much,” Hood said. “It was just feeling good and I told them I would let them know if my leg started to hurt.

Read more at the Deseret News.

Related links

How Operation Rio Grande changed lives

It’s been six months since Operation Rio Grande kicked off in Salt Lake City, according to the Deseret News.

Six months ago, police made nearly 3,000 arrests to clean up troubled areas of downtown Salt Lake City.

Leaders said on Monday that Operation Rio Grande has helped save lives in different ways.

Officials for the Department of Workforce Services said on Monday that about 70 people have entered treatment through the Utah capital city’s new drug court program. Moreover, 199 new addiction treatment beds have been made available.

Read more about the progress at the Deseret News.

Related links

Democrats to release their own memo

The House Intelligence Committee voted to release a Democratic memo that serves as a rebuttal to the Republican memo released last week, according to BBC News.

The Republican memo last week alleged bias against President Donald Trump in the ongoing Russian investigation program. Trump believes the Republican memo vindicates him in the ongoing probe.

The Democratic memo highlights issues in the GOP’s memo. California Rep. Adam Schiff, who wrote the Democrats’ memo, said Republicans "found themselves in an insupportable position when they released a misleading memo and refused to release the Democratic response, so I think they were compelled to take the action they did today.”

1 comment on this story

Schiff said it would be very hard for lawmakers to block the new memo, BBC reported.

Read more at BBC.

MORE NEWS:

Reuters: Wall Street struggles to rebound in volatile trade

Bloomberg: Asian Stocks Took Their Cues From the U.S, Wiping Out 2018 Gains

The Washington Post: N. Korea dominates pre-Olympic media coverage at Pyeongchang

BBC: Maldives ex-President Nasheed seeks help from India and US

The New York Times: Poland’s President Supports Making Some Holocaust Statements a Crime

The New York Times: For Nassar Accusers From Michigan State Teams, Feelings of a Trust Betrayed