Tag Archives: crashing

Intel CPUs Are Crashing and It’s Intel’s Fault: Intel Baseline Profile Benchmark – TechSpot

  1. Intel CPUs Are Crashing and It’s Intel’s Fault: Intel Baseline Profile Benchmark TechSpot
  2. In Light of Stability Concerns, Intel Issues Request to Motherboards Vendors to Actually Follow Stock Power Settings AnandTech
  3. Intel continues search for source of Core i9 chip crashes — issues statement about recommended BIOS settings to board partners Tom’s Hardware
  4. Motherboard makers apparently to blame for high-end Intel Core i9 CPU failures Ars Technica
  5. Intel’s Core i9 CPUs are still having some serious issues – but Intel insists it’s your motherboard’s fault TechRadar

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Video appears to show actor Michael B. Jordan crashing his Ferrari in Hollywood – KTLA Los Angeles

  1. Video appears to show actor Michael B. Jordan crashing his Ferrari in Hollywood KTLA Los Angeles
  2. New Video Shows Michael B. Jordan Racing Another Ferrari Just Before Crash TMZ
  3. Shocking new footage ‘shows Michael B Jordan losing control of his $400k Ferrari and crashing into a parked Ki Daily Mail
  4. Video Shows Michael B. Jordan’s Ferrari 812 With Another Ferrari Right Before Hollywood Crash CarScoops
  5. 5 celebrities who walked away from car crashes in 2023 and earlier: Cristiano Ronaldo and Michael B. Jordan wrecked their Ferraris, Pete Davidson escaped twice … but why was Justin Bieber arrested in his Lamborghini? Style

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‘We definitely think the office sector is crashing’: Inside an economist’s stunning prediction of a 35% price decline in 3 years and slow 17-year recovery – Fortune

  1. ‘We definitely think the office sector is crashing’: Inside an economist’s stunning prediction of a 35% price decline in 3 years and slow 17-year recovery Fortune
  2. How Will Office Space Values Fare in 2030? – Commercial Property Executive Commercial Property Executive
  3. Sunday Summary: McKinsey’s $800 Billion Bombshell – Commercial Observer Commercial Observer
  4. Despite bosses’ ultimatums, finance is among industries with lowest office attendance rates Fortune
  5. How much will commercial real estate lose due to remote work? Quartz
  6. View Full Coverage on Google News

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Stocks have a 70% chance of crashing in a few years: Jeremy Grantham – Markets Insider

  1. Stocks have a 70% chance of crashing in a few years: Jeremy Grantham Markets Insider
  2. Legendary investor Jeremy Grantham says the stock market has a 70% chance of crashing—and it could be an epic burst like the 1929 crisis Fortune
  3. The ‘superbubble’ in stocks and housing will burst – but the AI boom might delay the crash, Jeremy Grantham says Yahoo Canada Finance
  4. AI boom may delay when ‘superbubble’ in stocks, housing pops: Grantham Markets Insider
  5. Stock market has 70% chance of crashing in a few years, says GMO co-founder Jeremy Grantham Moneycontrol
  6. View Full Coverage on Google News

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Chinese tourist slammed online for crashing his drone into world’s 2nd tallest building

[Source]

Reddit users criticized a tourist after he accidentally crashed his drone into the world’s second tallest building, Merdeka 118 in Kuala Lumpur, Malaysia.

The Chinese vlogger shared the mishap in a video uploaded to the Chinese video sharing website Bilibili on Sunday, which was then clipped and reposted on the r/Malaysia subreddit by a user named u/UniverseSphere on Tuesday.

In the full video, the man is surprised to see that the building is under construction, but he still pushes through.

More from NextShark: New York City Mayor Eric Adams urges support for police after subway shootings: ‘Raise your voice’

He walks around and finds two workers relaxing by the road. He then asks them for permission to fly his small aircraft.

After receiving the green light and arriving at his destination, the vlogger takes out his device and begins flying it hundreds of feet above the ground. The resulting video gives a spectacular view of the building, which is expected to open sometime in mid-2023.

Tragedy suddenly strikes, however, when the man loses connection to his drone. The small aircraft, with its video camera still recording, can be seen hurtling towards a window of the Merdeka 118 before falling to the streets below.

More from NextShark: Taiwan-Born Lawyer Receives Hate Mail for Defending Man Accused of Attacking 75-Year-Old Woman in SF

Panicking, the man tries to run in an attempt to reconnect his remote to the device.

“Game over. This drone is going to be destroyed,” the man says in the video, as translated by video captions.

Oh, I’m a real pig. It’s over. It’s over,” he adds while running. “I can’t connect my drone.”

More from NextShark: South Korean Comedian, Mother Found Dead at Home in Suspected Suicide

After the clip made its way to Reddit, several users condemned the man for his actions.

Irresponsible drone pilot,” one user commented. “Should not be flying at that height over public places (with people underneath). This is the kinda shit that makes us other responsible pilots look bad. F*cking sh*t head.”

Fallen objects from that height is no joke, someone could very easily die,” another Reddit user wrote. “F*cker thinks its a funny video, wait till someone rats him out to the authorities. Also im not sure how steady the window panels are vs the impact of the drone, but I cannot imagine the harm it will cause if the panel falls down.”

More from NextShark: Orange County doctor John Cheng remembered for his heroism at Taiwanese church shooting

To legally fly a drone in Kuala Lumpur, the person operating it must first obtain a permit from the Jabatan Ukur dan Pemetaan Malaysia, which costs 50 Malaysian ringgit (approximately $11.40).

Before applying for the drone permit, the operator must first receive permission from the landowner of the establishment. Failure to obtain a permit before flying may result in a fine of up to 50,000 Malaysian ringgit (approximately $11,440) or imprisonment for a maximum of three years.

Related stories:

 

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Ghost Particles Crashing Into Antarctica Could Change Astronomy Forever

About 47 million light-years from where you’re sitting, the center of a black-hole-laden galaxy named NGC 1068 is spitting out streams of enigmatic particles. These “neutrinos” are also known as the elusive “ghost particles” that haunt our universe but leave little trace of their existence.

Immediately after coming into being, bundles of these invisible bits plunge across the cosmic expanse. They whisk by bright stars we can see and zip past pockets of space teeming with marvels we’re yet to discover. They fly and fly and fly until, occasionally, they crash into a detector deep below the surface of the Earth. 

The neutrinos’ journey is seamless. But scientists patiently wait for them to arrive. 

Nestled into about 1 billion tons of ice, more than 2 kilometers (1.24 miles) beneath Antarctica, lies the IceCube Neutrino Observatory. A neutrino hunter, you might call it. When any neutrinos transfer their party to the frigid continent, IceCube stands ready. 

In a paper published Friday in the journal Science, the international team behind this ambitious experiment confirmed it has found evidence of 79 “high-energy neutrino emissions” coming from around where NGC 1068 is located, opening the door for novel — and endlessly fascinating — types of physics. “Neutrino astronomy,” scientists call it. 

It’d be a branch of astronomy that can do what existing branches simply cannot.

Front view of the IceCube Lab at twilight, with a starry sky showing a glimpse of the Milky Way overhead and sunlight lingering on the horizon.


Martin Wolf, IceCube/NSF

Before today, physicists had only shown neutrinos coming from either the sun; our planet’s atmosphere; a chemical mechanism called radioactive decay; supernovas; and — thanks to IceCube’s first breakthrough in 2017 — a blazar, or voracious supermassive black hole pointed directly toward Earth. A void dubbed TXS 0506+056.

With this newfound neutrino source, we’re entering a new era of the particle’s story. In fact, according to the research team, it’s likely neutrinos stemming from NGC 1068 have up to millions, billions, maybe even trillions the amount of energy held by neutrinos rooted in the sun or supernovas. Those are jaw-dropping figures because, in general, such ghostly bits are so powerful, yet evasive, that every second, trillions upon trillions of neutrinos move right through your body. You just can’t tell. 

And if you wanted to stop a neutrino in its tracks, you’d need to fight it with a block of lead one light-year-wide — though even then, there’d be a fractional chance of success. Thus, harnessing these particles, NCG 1068’s version or not, could allow us to penetrate areas of the cosmos that’d usually lie out of reach. 

Now what?

Not only is this moment massive because it gives us more proof of a strange particle that wasn’t even announced to exist until 1956, but also because neutrinos are like keys to our universe’s backstage. 

They hold the capacity to reveal phenomena and solve puzzles we’re unable to address by any other means, which is the primary reason scientists are trying to develop neutrino astronomy in the first place.

“The universe has multiple ways of communicating with us,” Denise Caldwell of the National Science Foundation and a member of the IceCube team, told reporters on Thursday. “Electromagnetic radiation, which we see as light from stars, gravitational waves that shake the fabric of space — and elementary particles, such as protons, neutrons and electrons spewed out by localized sources.

“One of these elementary particles has been neutrinos that permeate the universe, but unfortunately, neutrinos are very difficult to detect.”

In fact, even the galaxy NGC 1068 and its gargantuan black hole are typically obscured by a thick veil of dust and gas, making them hard to parse with standard optical telescopes and equipment — despite years of scientists trying to pierce its curtain. NASA’s James Webb Space Telescope could have a leg up in this case due to its infrared eyes, but neutrinos may be an even better way in.

Expected to be generated behind such opaque screens filtering our universe, these particles can carry cosmic information from behind those screens, zoom across great distances while interacting with essentially no other matter, and deliver pristine, untouched information to humanity about elusive corners of outer space.

“We are very lucky, in a sense, because we can access an amazing understanding of this object,” Elisa Resconi, of the Technical University of Munich and IceCube team member, said of NGC 1068. 

In this artistic rendering, based on a real image of the IceCube Lab at the South Pole, a distant source emits neutrinos that are detected below the ice by IceCube sensors, called DOMs.


IceCube/NSF

It’s also notable that there are many (many) more galaxies similar to NGC 1068 — categorized as Seyfert galaxies — than there are blazars similar to TXS 0506+056. This means IceCube’s latest discovery is, arguably, a larger step forward for neutrino astronomers than the observatory’s seminal one. 

Perhaps the bulk of neutrinos diffusing throughout the universe are rooted in NGC 1068 doppelgangers. But in the grand scheme of things, there’s far more to the merit of neutrinos than just their sources. 

These ghosts, as Justin Vandenbroucke of the University of Wisconsin-Madison and an IceCube team member put it, are fit to solve two major mysteries in astronomy. 

First off, a wealth of galaxies in our universe boast gravitationally monstrous voids at their centers, black holes reaching masses millions to billions of times greater than our sun’s. And these black holes, when active, blast jets of light from their guts — emitting enough illumination to outshine every single star in the galaxy itself. “We don’t understand how that happens,” Vandenbrouke said simply. Neutrinos could provide a way to study the regions around black holes.

Second is the general, yet persistent, conundrum of cosmic rays.

We don’t really know where cosmic rays come from either, but these strings of particles reach energies to and beyond millions of times higher than we can reach here on Earth with human-constructed particle accelerators like the one at CERN. 

“We think neutrinos have some role to play,” Vandenbroucke said. “Something that can help us answer these two mysteries of black holes powering very bright galaxies and of the origins of cosmic rays.”

A decade to catch a handful

To be clear, IceCube doesn’t exactly trap neutrinos.

Basically, this observatory tells us every time a neutrino happens to interact with the ice shrouding it. “Neutrinos hardly interact with matter,” Vandenbrouke emphasized. “But they do interact sometimes.”

As millions of neutrinos shoot into the icy region where IceCube is set up, at least one tends to bump into an atom of ice, which then shatters and produces a flash of light. IceCube sensors capture that flash and send the signal up to the surface, notifications that are then analyzed by hundreds of scientists. 

A rendering of the IceCube detector shows the interaction of a neutrino with a molecule of ice. 


IceCube Collaboration/NSF

Ten years of light-flash-data allowed the team to pretty much map out where every neutrino seems to be coming from in the sky. It soon became clear there was a dense region of neutrino emissions located right where galaxy NGC 1068 is stationed. 

But even with such evidence, Resconi said the team knew “it’s not the time to open the champagne, because we still have one fundamental question to answer. How many times did this alignment happen just by chance? How can we be sure neutrinos are actually coming from such an object?”

A sky map of the scan for point sources in the Northern Hemisphere, showing where neutrinos seem to be coming from across the universe. The circle of NGC 1068 also coincides with the overall hottest spot in the northern sky.


IceCube Collaboration

So, to make matters as concrete as possible, and really, truly prove this galaxy is spitting out ghosts, “we generated 500 million times the same experiment,” Resconi said. 

Upon which, I can only imagine, a bottle of Veuve was popped at last. Though the hunt isn’t over.

“We are only beginning to scratch the surface as far as finding new sources of neutrinos,” Ignacio Taboada of the Georgia Institute of Technology and IceCube team member said. “There must be many other sources far deeper than NGC 1068, hiding somewhere to be found.”

Read original article here

Ghost Particles Crashing Into Antarctica Reveal Unseen Heart of Nearby Galaxy

About 47 million light-years from where you’re sitting, the center of a black-hole-laden galaxy named NGC 1068 is spitting out streams of enigmatic particles. These “neutrinos,” otherwise known as the notoriously elusive “ghost particles,” haunt our universe but leave little trace of their existence.

Immediately after coming into being, bundles of these invisible bits plunge across the cosmic expanse. They whisk by bright stars we can see and zip past pockets of space teeming with marvels we’re yet to discover. They fly and fly and fly until, occasionally, they crash into a detector deep below the surface of the Earth. 

The neutrinos’ journey is seamless. But scientists patiently wait for them to arrive. 

Nestled into about 1 billion tons of ice, more than 2 kilometers (1.24 miles) beneath Antarctica, lies the IceCube Neutrino Observatory. A neutrino hunter, you might call it. When any neutrinos transfer their party to the frigid continent, IceCube stands ready. 

In a paper published Friday in the journal Science, the international team behind this ambitious experiment confirmed it has found evidence of 79 “high-energy neutrino emissions” coming from around where NGC 1068 is located, opening the door for novel — and endlessly fascinating — types of physics. “Neutrino astronomy,” scientists call it. 

It’d be a branch of astronomy that can do what existing branches simply cannot.

Front view of the IceCube Lab at twilight, with a starry sky showing a glimpse of the Milky Way overhead and sunlight lingering on the horizon.


Martin Wolf, IceCube/NSF

Before today, physicists had only shown neutrinos coming from either the sun; our planet’s atmosphere; a chemical mechanism called radioactive decay; supernovas; and — thanks to IceCube’s first breakthrough in 2017 — a blazar, or voracious supermassive black hole pointed directly toward Earth. A void dubbed TXS 0506+056.

With this newfound neutrino source, we’re entering a new era of the particle’s story. In fact, according to the research team, it’s likely neutrinos stemming from NGC 1068 have up to millions, billions, maybe even trillions the amount of energy held by neutrinos rooted in the sun or supernovas. Those are jaw-dropping figures because, in general, such ghostly bits are so powerful, yet evasive, that every second, trillions upon trillions of neutrinos move right through your body. You just can’t tell. 

And if you wanted to stop a neutrino in its tracks, you’d need to fight it with a block of lead one light-year-wide — though even then, there’d be a fractional chance of success. Thus, harnessing these particles, NCG 1068’s version or not, could allow us to penetrate areas of the cosmos that’d usually lie out of reach. 

Now what?

Not only is this moment massive because it gives us more proof of a strange particle that wasn’t even announced to exist until 1956, but also because neutrinos are like keys to our universe’s backstage. 

They hold the capacity to reveal phenomena and solve puzzles we’re unable to address by any other means, which is the primary reason scientists are trying to develop neutrino astronomy in the first place.

“The universe has multiple ways of communicating with us,” Denise Caldwell of the National Science Foundation and a member of the IceCube team, told reporters on Thursday. “Electromagnetic radiation, which we see as light from stars, gravitational waves that shake the fabric of space — and elementary particles, such as protons, neutrons and electrons spewed out by localized sources.

“One of these elementary particles has been neutrinos that permeate the universe, but unfortunately, neutrinos are very difficult to detect.”

In fact, even the galaxy NGC 1068 and its gargantuan black hole are typically obscured by a thick veil of dust and gas, making them hard to parse with standard optical telescopes and equipment — despite years of scientists trying to pierce its curtain. NASA’s James Webb Space Telescope could have a leg up in this case due to its infrared eyes, but neutrinos may be an even better way in.

Expected to be generated behind such opaque screens filtering our universe, these particles can carry cosmic information from behind those screens, zoom across great distances while interacting with essentially no other matter, and deliver pristine, untouched information to humanity about elusive corners of outer space.

“We are very lucky, in a sense, because we can access an amazing understanding of this object,” Elisa Resconi, of the Technical University of Munich and IceCube team member, said of NGC 1068. 

In this artistic rendering, based on a real image of the IceCube Lab at the South Pole, a distant source emits neutrinos that are detected below the ice by IceCube sensors, called DOMs.


IceCube/NSF

It’s also notable that there are many (many) more galaxies similar to NGC 1068 — categorized as Seyfert galaxies — than there are blazars similar to TXS 0506+056. This means IceCube’s latest discovery is, arguably, a larger step forward for neutrino astronomers than the observatory’s seminal one. 

Perhaps the bulk of neutrinos diffusing throughout the universe are rooted in NGC 1068 doppelgangers. But in the grand scheme of things, there’s far more to the merit of neutrinos than just their sources. 

These ghosts, as Justin Vandenbroucke of the University of Wisconsin-Madison and an IceCube team member put it, are fit to solve two major mysteries in astronomy. 

First off, a wealth of galaxies in our universe boast gravitationally monstrous voids at their centers, black holes reaching masses millions to billions of times greater than our sun’s. And these black holes, when active, blast jets of light from their guts — emitting enough illumination to outshine every single star in the galaxy itself. “We don’t understand how that happens,” Vandenbrouke said simply. Neutrinos could provide a way to study the regions around black holes.

Second is the general, yet persistent, conundrum of cosmic rays.

We don’t really know where cosmic rays come from either, but these strings of particles reach energies to and beyond millions of times higher than we can reach here on Earth with human-constructed particle accelerators like the one at CERN. 

“We think neutrinos have some role to play,” Vandenbroucke said. “Something that can help us answer these two mysteries of black holes powering very bright galaxies and of the origins of cosmic rays.”

A decade to catch a handful

To be clear, IceCube doesn’t exactly trap neutrinos.

Basically, this observatory tells us every time a neutrino happens to interact with the ice shrouding it. “Neutrinos hardly interact with matter,” Vandenbrouke emphasized. “But they do interact sometimes.”

As millions of neutrinos shoot into the icy region where IceCube is set up, at least one tends to bump into an atom of ice, which then shatters and produces a flash of light. IceCube sensors capture that flash and send the signal up to the surface, notifications that are then analyzed by hundreds of scientists. 

A rendering of the IceCube detector shows the interaction of a neutrino with a molecule of ice. 


IceCube Collaboration/NSF

Ten years of light-flash-data allowed the team to pretty much map out where every neutrino seems to be coming from in the sky. It soon became clear there was a dense region of neutrino emissions located right where galaxy NGC 1068 is stationed. 

But even with such evidence, Resconi said the team knew “it’s not the time to open the champagne, because we still have one fundamental question to answer. How many times did this alignment happen just by chance? How can we be sure neutrinos are actually coming from such an object?”

A sky map of the scan for point sources in the Northern Hemisphere, showing where neutrinos seem to be coming from across the universe. The circle of NGC 1068 also coincides with the overall hottest spot in the northern sky.


IceCube Collaboration

So, to make matters as concrete as possible, and really, truly prove this galaxy is spitting out ghosts, “we generated 500 million times the same experiment,” Resconi said. 

Upon which, I can only imagine, a bottle of Veuve was popped at last. Though the hunt isn’t over.

“We are only beginning to scratch the surface as far as finding new sources of neutrinos,” Ignacio Taboada of the Georgia Institute of Technology and IceCube team member said. “There must be many other sources far deeper than NGC 1068, hiding somewhere to be found.”

Read original article here

Washington DC school bus driver arrested for DWI after crashing bus with kids on board during field trip

A Washington, D.C. elementary school bus driver transporting a class full of students on a field trip in Virginia was arrested on Thursday for DWI after driving the big yellow vehicle into a ditch.

Fairfax County Police arrested Troy Reynolds, 48, of Maryland and charged him with DWI as well as nine counts of gross, wanton, or reckless care for children.

Troy Reynolds, was driving a bus full of elementary school students when he hit a rock and drove into a ditch. He was later charged with DWI.

Police said was driving a school bus carrying 44 children and four adults back to Murch Elementary School in Washington, D.C. after spending the day at Cox Farms in Centreville, Virginia.

Not long after hitting the road, Reynolds ran over a rock, causing the rim to flare out and the tire to flatten.

EPA SPENDS NEARLY $1 BILLION ON ELECTRIC SCHOOL BUSES AMID NATIONWIDE BUS DRIVER SHORTAGE

Rather than stop, police said Reynolds continued to drive until adults on the bus convinced him to follow another bus that was returning from the field trip as well.

Both buses came to a stop in a parking lot at a nearby technology park where they were met by Fairfax County Fire and Rescue personnel and officers from the Fairfax County Police, Sully District Station.

A bus for Chesterfield County Public Schools  
(Chesterfield County Public Schools)

Police said nine children were treated on the scene for non-life-threatening injuries.

Reynolds, police added, failed a field sobriety test and was taken to a detention facility.

He was charged with DWI – which was his second within a 10-year period – and commercial DWI with child endangerment.

CHOWCHILLA SCHOOL BUS HIJACKING VICTIM CREDITS KIDNAPPERS FOR HIS LIFE’S VICTORIES, HAS MET ALL THREE IN PERSON

Police also discovered Reynolds’ license was revoked in Virginia for a previous DWI and suspended in Maryland.

A search of Reynolds found he was in possession of a fake medical card, and he was ultimately held without bond.

Between the two buses at the scene, officers with the police department’s Motor Carrier Safety Unit found 18 safety violations. A third bus that responded to the scene to replace the bus Reynolds was driving was also taken out of service by police for safety violations.

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Of the three drivers who were on the scene, MCS officers determined none were properly licensed to drive a school bus.

All 93 students and eight adults were transported to the Criminal Justice Academy in Chantilly, Virginia where they were able to play in the gym while detectives investigated the matter.

Ultimately, buses from the Fairfax County Public School system took the students back to their school in D.C.

Read original article here

Stocks crashing? No, but here’s why this bear market feels so painful — and what you can do about it.

Hashtags about a stock-market crash may be trending on Twitter, but the selloff that has sent U.S. equities into a bear market has been relatively orderly, say market professionals. But it’s likely to get more volatile — and painful — before the market stabilizes.

It was indeed a white-knuckle ride for investors Friday as the Dow Jones Industrial Average
DJIA,
-1.62%
plunged more than 800 points and the S&P 500 index
SPX,
-1.72%
traded below its 2022 closing low from mid-June before trimming losses ahead of the bell. The Dow sank to its lowest close since November 2020, leaving it on the brink of joining the S&P 500 in a bear market.

Why is the stock market falling?

Rising interest rates are the main culprit. The Federal Reserve is raising its benchmark interest rate in historically big increments — and plans to keep raising them — as it attempts to pull inflation back to its 2% target. As a result, Treasury yields have soared. That means investors can earn more than in the past by parking money in government paper, raising the opportunity cost of investing in riskier assets like stocks, corporate bonds, commodities or real estate.

Historically low interest rates and ample liquidity provided by the Fed and other central banks in the wake of the 2008 financial crisis and the 2020 pandemic helped drive demand for riskier assets such as stocks.

That unwinding is part of the reason why the selloff, which isn’t limited to stocks, feels so harsh, said Michael Arone, chief investment strategist for the SPDR business at State Street Global Advisors.

“They’ve struggled with the idea that stocks are down, bonds are down, real estate is starting to suffer. From my viewpoint it’s the fact that interest rates are rising so rapidly, resulting in declines across the board and volatility across the board,” he said, in a phone interview.

How bad is it?

The S&P 500 index ended Friday down 23% from its record close of 4,796.56 hit on Jan. 3 this year.

That’s a hefty pullback, but it’s not out of the ordinary. In fact, it’s not even as bad as the typical bear-market retreat. Analysts at Wells Fargo studied 11 past S&P 500 bear markets since World War II and found that the downdrafts, on average, lasted 16 months and produced a negative 35.1% bear-market return.

A decline of 20% or more (a widely used definition of a bear market) has occurred in 9 of the 42 years going back to 1980, or about once every five years, said Brad McMillan, chief investment officer for Commonwealth Financial Network, in a note.

“Significant declines are a regular and recurring feature of the stock market,” he wrote. “In that context, this one is no different. And since it is no different, then like every other decline, we can reasonably expect the markets to bounce back at some point.”

What’s ahead?

Many market veterans are bracing for further volatility. The Fed and its chairman, Jerome Powell, signaled after its September meeting that policy makers intend to keep raising interest rates aggressively into next year and to not cut them until inflation has fallen. Powell has warned that getting inflation under control will be painful, requiring a period of below-trend economic growth and rising unemployment.

Many economists contend the Fed can’t whip inflation without sinking the economy into a recession. Powell has signaled that a harsh downturn can’t be ruled out.

“Until we get clarity on where the Fed is likely to end” its rate-hiking cycle, “I would expect to get more volatility,” Arone said.

Meanwhile, there may be more shoes to drop. Third-quarter corporate earnings reporting season, which gets under way next month, could provide another source of downside pressure on stock prices, analysts said.

“We’re of the view that 2023 earnings estimates have to continue to decline,” wrote Ryan Grabinski, investment strategist at Strategas, in a note. “We have our 2023 recession odds at about 50% right now, and in a recession, earnings decline by an average of around 30%. Even with some extreme scenarios—like the 2008 financial crisis when earnings fell 90% — the median decline is still 24%.”

The consensus 2023 earnings estimate has only come down 3.3% from its June highs, he said, “and we think those estimates will be revised lower, especially if the odds of a 2023 recession increase from here,” Grabinski wrote.

What to do?

Arone said sticking with high quality value stocks that pay dividends will help investors weather the storm, as they tend to do better during periods of volatility. Investors can also look to move closer to historical benchmark weightings, using the benefits of diversification to protect their portfolio while waiting for opportunities to put money to work in riskier parts of the market.

But investors need to think differently about their portfolios as the Fed moves from the era of easy money to a period of higher interest rates and as quantitative easing gives way to quantitative tightening, with the Fed shrinking its balance sheet.

“Investors need to pivot to thinking about what might benefit from tighter monetary policy,” such as value stocks, small-cap stocks and bonds with shorter maturities, he said.

How will it end?

Some market watchers argue that while investors have suffered, the sort of full-throttle capitulation that typically marks market bottoms has yet to materialize, though Friday’s selloff at times carried a whiff of panic.

The Fed’s aggressive interest rate rises have stirred market volatility, but haven’t caused a break in the credit markets or elsewhere that would give policy makers pause.

Meanwhile, the U.S. dollar remains on a rampage, soaring over the past week to multidecade highs versus major rivals in a move driven by the Fed’s policy stance and the dollar’s status as a safe place to park.

A break in the dollar’s relentless rally “would suggest to me that the tightening cycle and some of the fear — because the dollar is a haven — is starting to subside,” Arone said. “We’re not seeing that yet.”

Read original article here

NASA testing planetary defense by crashing spacecraft into an asteroid

Heart rates are spiking in the Washington suburbs, where scientists and engineers on Monday evening hope to witness a vending-machine-sized spacecraft that is 7 million miles from Earth crash into an asteroid.

If everything goes as planned, and the laws of gravity and motion don’t change at the last minute, this will happen at 7:14 p.m. Eastern time — or, to be precise: 7:14:23.

There’s nothing major at stake here, other than demonstrating a technology that someday might save civilization.

It’s important to note that the targeted asteroid isn’t a threat to Earth and has done nothing wrong to deserve this attention. But the space collision is a critical moment for the Double Asteroid Redirection Test (DART), NASA’s first test of “planetary defense.”

This mission is designed to show how a “kinetic impactor” could deflect a dangerous asteroid that might strike the Earth. There are a lot of space rocks out there that could interrupt our typically peaceful journey around the sun. The general strategy in planetary defense is to alter the orbits of asteroids so that, even if they come close to Earth, they’ll pass by harmlessly.

The DART team members are confident they’ll succeed, but they admit this is not a slam dunk. The spacecraft could miss. There will be no consolation for the scientists and engineers if they almost hit the target. This isn’t horseshoes or hand grenades: Close doesn’t count when you’re trying to change the course of an asteroid.

“Mission success is pretty clear: You need to hit that asteroid,” said Elena Adams, an engineer at the Johns Hopkins University Applied Physics Laboratory in Laurel, Md., which is conducting the mission under contract with NASA.

The asteroid is called Dimorphos. It is roughly 500 feet in diameter. No one knows precisely what it looks like. It’s just a fuzzy blob in telescopes. The first time Earthlings will get a good look at it will be less than an hour before impact.

Dimorphos orbits another, larger asteroid, named Didymos (Greek for “twin”), as both hurtle around the sun. Such “binary” asteroids are common.

The spacecraft was launched last November from California. The bigger asteroid serves essentially as the guide star of the mission. But only the smaller asteroid is being targeted. When the spacecraft gets close to big Didymos, it should see little Dimorphos swinging around from behind its companion. It’ll be a head-on collision.

Things will surely be tense in the Mission Operations room in Laurel. The Applied Physics Laboratory handles a lot of classified government research but sometimes does nifty space missions. Seven years ago it successfully flew NASA’s New Horizons spacecraft by Pluto and got the first close-up images of the dwarf planet.

How it works: NASA hopes to hit an asteroid now in case we really need to knock one away later

This mission is similar in that it’s fraught with difficulties and uncertainties. The spacecraft must make crucial last-second navigational decisions autonomously. Flying a spacecraft at high speed — about 14,000 miles per hour — into a relatively small asteroid is something no one has ever done before.

If the DART spacecraft misses the target, it will theoretically have a second chance for a smashup encounter with Dimorphos in another two years — but the engineers aren’t even thinking about taking a mulligan.

Previous space science missions by NASA and the Japanese space agency took samples of asteroids, but those were carefully choreographed rendezvous involving gradual approaches. DART envisions a high-speed crash. The scientists and engineers behind the mission say they won’t know if they’ll hit the asteroid until about 20 seconds before impact.

“The asteroids are extremely dark,” Adams said. “We have to hit something that’s the size of two stadiums. You can’t see them until about an hour before hitting them …. Even then it’s just a pixel in our camera.”

Mission engineers are making their last adjustments to the spacecraft’s trajectory, but the final approach, in the hours before the anticipated collision, will be automated. A camera on board the spacecraft will capture images of the smaller asteroid while simultaneously helping the vehicle zero in on the target.

The final images transmitted by the spacecraft’s camera will show a tiny white dot growing into something brighter, bigger and more asteroidal. Then, if all goes as hoped, Dimorphos will loom so large it fills the field of view.

And that will be the last thing anyone will see as the spacecraft makes the ultimate sacrifice.

Telescopes on Earth as well as the Webb and Hubble out in space will also be observing the impact.

The most worrisome asteroids with potentially global climate repercussions are the ones larger than 1 kilometer in diameter. They’re the easiest to spot. More than 95 percent of the estimated population of such killer rocks has been identified, said planetary scientist Nancy Chabot, DART’s coordination lead.

Fewer than half of the asteroids between 140 meters and 1 kilometer have been identified. That’s an ongoing effort. Rocks in that size range — and Dimorphos is one of them — could wipe out a major city with a direct hit. Chabot said early detection is key to planetary defense.

“This is something that you don’t do last-minute. This is something that you do years in advance,” she said.

NASA and its partners have a catalogue of 30,000 objects at this point, said the agency’s planetary defense officer, Lindley Johnson. Scientists can calculate their orbits for some decades into the future, but as the timeline gets longer, the orbital uncertainties increase.

No dangerous asteroid at the moment appears to be on track to slam into Earth, to the extent that these things can be calculated, Johnson said. But he’ll be watching Monday night’s asteroid redirection test closely.

“We’ve got to have such technology,” he said. “It would be prudent upon us to test that all out ahead of time, so we’re not trying to do it for the first time when we really need it to work.”

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