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In our news wrap Monday, new violence erupted in Iran amid anti-government protests over the death of a young woman in police custody, North Korea said recent missile tests simulated the use of nuclear weapons to hit South Korean and U.S. targets, Hurricane Julia left at least 19 dead across Central America and China imposed new restrictions after daily COVID cases tripled during a holiday.
In the day's other news: New violence erupted in Iran amid anti-government protests over the death of a young woman in police custody. Gunshots and explosions echoed in online video from Sanandaj in the West.
Activists said that security forces killed one man in a nearby village. Elsewhere, workers at major Iranian refineries joined the protests for the first time.
State media in North Korea say that missile launches in recent days simulated the use of nuclear weapons to — quote — "hit and wipe out" South Korea and U.S. targets. The North showed images of leader Kim Jong-un watching test launches. It said that the tests came in response to joint U.S. and South Korean naval drills.
Hurricane Julia has left at least 19 debt across Central America. The storm struck Nicaragua's Caribbean coast early Sunday. Winds of 85 miles an hour and torrents of rain destroyed homes and flooded towns across Nicaragua and El Salvador, and it raised the threat of mudslides and even worse flooding.
Miguel Narvaez, Nicaragua Resident (through translator):
We are still very concerned with the storm. It was strong. We didn't sleep because we were on alert with the boys, trying to keep things from getting damaged. But, honestly, there isn't much to do against Mother Nature.
By early today, what's left of the storm crossed into the Pacific and moved into Guatemala. It's expected to dissipate by tomorrow.
Cities in Northern China are imposing new restrictions after daily COVID cases tripled during a weeklong holiday. Lockdowns began today in Fenyang city and Shanxi province. The capital of Inner Mongolia also announced restrictions starting tomorrow.
Back in this country, Nury Martinez resigned as president of the Los Angeles City Council over racist remarks. The Los Angeles Times had reported on a 2021 recording in which Martinez made offensive comments about the Black son of a white councilman. She also insulted Latinos with darker skin. Martinez apologized today. She did not say if she will stay on the council.
Former Federal Reserve Chair Ben Bernanke has won a share of this year's Nobel Prize in economics. He was honored today along with Philip Dybvig of Washington University in St. Louis and Douglas Diamond of the University of Chicago. In the early 1980s, the three showed bank failures can trigger economic crises. Bernanke says that he used those findings at the Fed to fight the Great Recession of 2008.
Ben Bernanke, Former Federal Reserve Chairman:
And thinking about these issues made me very determined to do everything I could, along with my other policymakers, my colleagues, to try to prevent the financial system from melting down, because I strongly believed that, if that happened, that would bring down the rest of the economy.
As for current conditions, Bernanke said he expects inflation and interest rates to come down over time.
A major U.S. railroad union has rejected a new contract with freight railroads, renewing the possibility of a strike. The Brotherhood of Maintenance of Way Employees voted down a tentative deal, citing concerns about paid sick time and job losses. In all, 12 unions have to ratify the contract to prevent a strike after mid-November.
And, on Wall Street, stocks started the week on a down note. The Dow Jones industrial average lost 94 points to close below 29203. The Nasdaq fell 110 points — that's 1 percent — to its lowest close since July 2020. The S&P 500 slipped 27.
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