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* * * * * * WEDNESDAY, OCTOBER 8, 2014 ~ VOL. CCLXIV NO. 84 WSJ.com HHHH $2 .00
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What’sNews
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World-WidenTurkey and the U.S.warnedthat the Syrian border city ofKobani was in imminent dangerof falling to Islamic State.A1n Iraq’s Anbar, a buffer zonebetween Islamic State andBaghdad, is at risk of falling tothe militants, officials said. A8nThe husband and a co-worker of a Spanish nurse’saide who was infected with Eb-ola were put in quarantine. A6n U.S. military specialistshave been sent to Liberia torun blood-testing labs. A6n The CDC said it plans toincrease screening for Ebolaof people flying to the U.S. A6n Same-sex-marriage bansin Idaho and Nevada werestruck down by the NinthU.S. Circuit appeals court. A3nUkraine’s president calledfor hundreds more interna-tional monitors in the east, cit-ing threats to a cease-fire. A7nHong Kong officials andstudent protest leaders agreedto begin formal talks afterover a week of sit-ins. A14nRobotic surgery to removeovaries and ovarian cysts costsmore and has more complica-tions than regular surgery. A5n The Nobel Prize in Physicswas awarded to three scientistsfor inventing the blue LED. A14nMostmigrantswho recentlyentered the U.S. illegally showedup for deportation hearings.A5n Five Afghan men sentencedto death for a gang rape willbe hangedWednesday, A14nNorth Korea acknowledgedthe existence of its laborcamps for the first time. A10
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Stocks plunged on concernsover growth, especially in
Europe. The Dow slid 272.52points, or 1.6%, to 16719.39, itsworst decline since July. A1, C4Germany’s bank chief tooka hard line against stimulus,criticizing an ECB decision tobuy private-sector bonds. A9nWal-Mart is cutting healthinsurance for 30,000 part-timeworkers and raising premiumsfor its other employees. A1n Valeant and Pershing planto boost their Allergan bid by$15 a share, valuing the Botoxmaker at over $56 billion. B1nThe number of job openingsacross the U.S. reached a 13-year high in August and thenumber of job seekers fell. A2nBlackstone will stop pocket-ing extra consulting fees whenselling firms or taking thempublic after SEC criticism. C1nAIG’s failurewould havehad dire consequences, ex-NewYork Fed chief Geithner testi-fied in a suit over the bailout.C1nCalpers plans to increase its$26 billion of commercial real-estate investments by 27%. C1n The Florida overseer ofstate pension plans is pullingover $2 billion from Pimco. C3nRio Tinto said it rejected anapproach this summer by Glen-core thatwould have createdtheworld’s No. 1mining firm.B1n Bloomberg will end earlyaccess to the Michigan con-sumer survey when it beginsdistribution next year. A2n Container Store shares slid25% after the retailer againlowered its sales forecast. B2
Business&Finance
Turkey and the U.S. warnedthat a major Syrian border citywas in imminent danger of fallingto Islamic State, with the twocountries putting the onus on the
other to halt the extremistgroup’s advance.
Turkish President RecepTayyip Erdogan pressed the U.S.-led coalition on Tuesday to moveahead with plans to arm and trainSyrian and Iraqi ground forces to
battle Islamic State, saying air-strikes alone weren’t enough.
An American military officialsaid the U.S. believes the situationin the predominantly Kurdish cityof Kobani is increasingly dire, andthat the city is likely to fall shortlyif Turkey doesn’t intervene.
The complications for Turkeystemming from the advance onKobani were mounting rapidly.Beyond U.S. pressure to step in,protests by the country’s restiveKurds were spreading quickly. Atleast a dozen people were killedin clashes with security forces in
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By Ayla Albayrak,Nour Malas
and Julian E. Barnes
U.S., Turkey at OddsAsMilitants Advance
Stocks tumbled on escalatingconcerns about global growthprospects, especially in Europe, asnew data showed deepeningstresses in the continent’s econ-omy and remarks from a leadingpolicy maker highlighted the lackof consensus in dealing with theslowdown.
The Dow Jones Industrial Aver-age slid nearly 273 points, or 1.6%,its worst daily decline since Julyand fourth-biggest point drop ofthe year. The slump in U.S. shareprices followed big losses in Ger-man, French and U.K. stock mar-kets.
Nervous investors headed tosafe-haven government bonds and
drove up the value of the yen,which often rises in times of mar-ket turmoil. The dollar, which hasbeen on a three-month tear, fell.
The yen continued tostrengthen early Wednesday inAsia, with stocks plunging in re-sponse to overseas markets. Ja-pan’s Nikkei Stock Average fell1.5% in early trading.
Although investors say they re-main broadly confident that theU.S. economy is on a relativelyhealthy growth path, many haveexpressed worries about the re-newed slowdown in Europe at atime when Japan’s economy re-
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By Dan Strumpf,Alexandra Scaggs
and Brian Blackstone
Growth FearsSink MarketsGermany Pushes Back on Stimulus Efforts
Ebola Fight Picks Up Speed
And
resKu
dacki/AssociatedPress
Wal-MartIs CuttingInsuranceFor 30,000
Republican Sen. Lindsey Graham, after an earlyscare, is cruising toward re-election next month inSouth Carolina. Yet, he isn’t sure what the deepermeaning of victory will be this year.
“There is no mandate other than, ‘We don’t likethe other guy,’ ” he said.
Sen. Graham and his fellow Republicans hold aclear edge as the midterm campaign heads into itsstretch run. The party is almost certain to keep con-trol of the House, and may expand its majority. De-pending on the outcome in several close states, theRepublican Party could gain between four and sevenseats in the Senate, giving it a good shot at capturing
BY JANET HOOK
MIDTERM BLUES
As Elections Loom, VotersAre Excited About…Nobody
Wal-Mart Stores Inc. is cut-ting health insurance for another30,000 part-time workers andraising premiums for its otheremployees, as U.S. corporationspush to contain costs in thewake of the federal health-carelaw.
Autumn is typically when U.S.companies unveil changes to em-ployee insurance plans. This isthe first such enrollment periodsince employers could assess thefull financial impact of the fed-eral health-care overhaul, and itis a key moment as companieswork to lower their spendingahead of looming taxes on themost generous plans.
Many businesses are continu-ing to shift more costs to work-
Pleaseturntothenextpage
By Shelly Banjo,AnnaWilde Mathewsand Theo Francis
No part of speech has had toput up with so much adversityas the adverb. The grammaticalequivalent of cheap cologne ortrans fat, the adverb is supposedto be used spar-ingly, if at all, tomodify verbs, ad-jectives or otheradverbs. As Ste-phen King suc-cinctly put it:“The adverb isnot your friend.”
Not everybody,however, looksaskance at thepart of speech.Indeed, there is at least oneplace where the adverb not onlyflourishes but wields power—theAmerican legal system.
Adverbs in recent years havetaken on an increasingly impor-tant—and often contentious—
role in courthouses. Their influ-ence has spread with the help oflawmakers churning out newlaws packed with them.
A U.S. appellate court, for ex-ample, this past summer wres-tled with the question of
whether a defen-dant could have“ k n o w i n g l y ”aimed a laserpointer at a heli-copter if he mis-takenly assumedthe beamwouldn’t reachthe aircraft.
Words such as“knowingly,” “in-tentionally” and
“recklessly,” which deal withcriminal intent, pop up most fre-quently, but plenty of other ad-verbs have enjoyed the spotlight.When the U.S. Supreme Court inJune recognized religious protec-
PleaseturntopageA8
BY JACOB GERSHMAN
Lawyers, Judges Modify the ViewThat Adverbs Are Mostly Bad
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The Maligned Part of Speech Has FriendsIn High Court; Don’t Tell Stephen King
Stephen King
that chamber and, with it, control of Congress for thefirst time in eight years.
But the GOP’s advantage springs more from in-tense anti-Obama feelings than from a wave of voterswho believe Republicans will transformWashington.Indeed, disillusionment with politics may help ex-plain why Republicans’ edge isn’t wider at a timewhen job approval ratings of the Democratic presi-dent have slid into the 40% range.
The backdrop of this fall’s voting is a mood ofvoter anger over the status quo, polls suggest. Justone month before the Nov. 4 election, it isn’t even
PleaseturntopageA10
New Kind of Stress Test for Geithner
Bloomberg
New
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CRITICAL CARE: A Spanish nurse’s aide infected with Ebola in Madrid was moved to another hospital. U.S. militaryspecialists have been sent to Liberia to operate labs, and the CDC will add screening of flight arrivals in the U.S. A6
UNDER OATH: Timothy Geithner, who helped orchestrate the U.S. bailoutof AIG, responded to a suit alleging the rescue terms were too harsh. C1
Surging dollar imperils profits... C4 S&P and Nasdaq join Dow in
swoon.................................................. C4 Heard on the Street: Eurozone
growth hopes skid..................... C16
West Virginia’s rightward turn boosts GOP........... A4
1Source: BlackRock. As of 6/30/2014. Based on $4.59T in AUM,including $1.3T across every sector of the bond market.Prepared by BlackRock Investments, LLC, member FINRA. ©2014BlackRock, Inc. All rights reserved. BLACKROCK and BUILD ONBLACKROCK are registered and unregistered trademarks ofBlackRock, Inc. or its subsidiaries in the United States. Usr-4634.
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