U.S. stock rally unravels as Dow, S&P 500 end sharply lower

In a dramatic reversal to a morning rally, U.S. stocks relinquished all of their opening gains, and then some, to finish with sharp losses. The main indexes began trimming gains in afternoon trade, falling into negative territory ahead of the closing bell as selling accelerated in the final hour.

CBO: Surging Federal Debt Under Obama Unsustainable

The U.S. budget deficit is likely to fall by $60 billion in 2015 due to strong revenue gains, the Congressional Budget Office said on Tuesday, enabling the government to stave off default without a debt limit hike perhaps through early December.

Vatican tells Palestinians it won’t join UN flag bid — report

The Vatican on Tuesday reportedly requested it be taken off a UN General Assembly Draft resolution prepared by Palestinian diplomats calling for the flags of Palestine and the Holy See to be flown at the world body’s New York headquarters.

Iran nuke deal erases Obama’s red lines

From allowing Iran to keep enriching uranium to abandoning “anywhere, anytime” inspections of Tehran’s nuclear facilities, the Obama administration has crossed many of its own red lines in the nuclear deal that will lift tough economic sanctions on America’s longtime adversary.

Asian shares move off 3-year lows while China’s suffering goes on

Volatile global markets showed tentative signs of a respite from the recent blood-letting on Tuesday as bargain hunters helped Asian stocks off three-year lows, though share markets in China, epicentre of the rout, suffered another big sell-off.

Harry Reid officially comes out for Iran deal

Senate Minority Leader Harry Reid, D-N.V., finally lent his support to the Obama administration’s nuclear deal with Iran. Reid is retiring in 2017, and his silence on the matter fueled speculation that he might join his presumed successor, Senator Chuck Schumer, D-N.Y., in opposition to the deal.

Atheists Demand Schools Remove Christian Quotes

An atheist group is demanding that a Texas school district remove any Christian quotes from its buildings by claiming that they ‘unconstitutionally promote religion.’

Kazakhstan: Children’s Christian Camp Raided

Kazakh authorities recently raided a church-run children’s camp after claiming the children were being taught religion illegally and without their parents’ permission.

Obama has power to circumvent Congress on Iran nuke deal, analysts say

Even strong bipartisan disapproval by Congress of the Iranian nuclear deal won’t stop President Obama from implementing the agreement, so the vote next month is shaping up as a warning to Europe against resuming business with Tehran before the next U.S. president is elected.

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