5 things to know for Oct. 2: Debate takeaways, Iran missile attack, Helene aid, Stock market, Food dye ban

By Alexandra Banner, CNN

(CNN) — Elon Musk’s X, formerly known as Twitter, is now worth nearly 80% less than when he bought it in 2022, according to estimates from investment giant Fidelity. The new valuation comes as companies have halted spending on the platform to prevent their ads from running alongside potentially objectionable content, like hate speech and political misinformation.

Here’s what else you need to know to Get Up to Speed and On with Your Day.

1. Debate takeaways

Sen. JD Vance and Gov. Tim Walz faced off Tuesday in their first and only vice presidential debate of the 2024 campaign. It was a civil and policy-focused showdown where both were asked about escalating tensions in the Middle East, immigration, inflation, health care, abortion and other key issues for American voters. The two largely focused on substance rather than personal attacks, but they did trade barbs on a host of topics before ending with a tense exchange over January 6, 2021, and the future of democracy. The mics were cut during a contentious back-and-forth over Vance’s false claims about Haitian immigrants eating the pets of residents in Springfield, Ohio. Overall, analysts say the debate is unlikely to change the trajectory of the presidential race. A CNN Instant Poll also found no clear winner in the matchup.

2. Iran missile attack

Iran launched its largest-ever attack on Israel Tuesday, firing 200 ballistic missiles in an unprecedented barrage that appears to have been mostly blunted by Israeli defenses with the help of the US and its allies. Israel has vowed to retaliate, with Prime Minister Benjamin Netanyahu saying Iran had made a “big mistake” and “will pay” as fears grow of a wider all-out war between the two regional powers. One person was killed in the attack and the extent of the damage remains unclear. Many of the Iranian missiles fell at, or near, the headquarters of Israeli intelligence service Mossad and two air bases, according to a CNN analysis. Iran’s military chief later warned of broader strikes if Israel responds.

3. Helene aid

At least 162 people have died and many more are missing as communities work to clean up Hurricane Helene’s catastrophic damage. Six days after the storm hit, residents in North Carolina are still struggling to access necessities like food and water. Thousands are without power and travel remains dangerous with hundreds of roads closed. President Joe Biden is expected to fly over Asheville, North Carolina, today, where the damage from Helene has so severely narrowed access to the city that the president’s motorcade cannot make it in, the mayor said. Officials said at least 20,000 people across the Southeastern US have registered for assistance and are anxiously awaiting resources after the storm left hundreds of millions of dollars in damage.

4. Stock market

The stock market is off to its best start to a year since 1997 but a massive dockworkers strike underway in the US could muck up some of that progress, economists say. Investors remain bullish for now: the S&P 500 has scored 43 record highs so far in 2024. But the ripple effects of the port workers’ strike could mean tens of thousands of other workers across various industries could find themselves temporarily unemployed if the strike is prolonged. Those job losses, coupled with an ongoing Boeing strike and the effects of Hurricane Helene, could massively distort the October jobs report (released on November 1) at a time when the Fed is heavily scrutinizing employment data for signs of a weakening labor market, economists tell CNN.

5. Food dye ban

Six chemicals used in many popular food and drink products were banned from California public schools this week. The new law makes the Golden State the first in the country to forbid the use of red dye No. 40 and other common dyes in K-12 public school meals. Some of these dyes are found in some, but not all, products under the Cheetos, Doritos, Skittles, M&Ms, Starburst, Gatorade, Mountain Dew, Cap’n Crunch, Ruffles and Takis brands. The bill stems from concerns these dyes would harm children’s ability to learn, as some studies show they have been linked to behavioral difficulties and decreased attention among children. If you’re concerned about the potential impacts of these dyes, experts recommend avoiding ultra-processed foods and opting for alternatives like fresh produce — foods that are USDA-certified organic, for example, can’t contain artificial food dye.

BREAKFAST BROWSE

Who will see today’s annular solar eclipse?
An annular solar eclipse will create a “ring of fire” phenomenon in the sky over parts of South America today. A partial eclipse will also appear over Hawaii. Enjoy, sky-gazers!

Nintendo’s first museum offers a nostalgic trip back in video game time
Japan’s new Nintendo Museum takes visitors through the levels of the company’s 135-year history with an exhibition that includes rare consoles and prototypes. Take a look inside.

Startups are vying to become Africa’s top food delivery app
Chowdeck is already delivering food, groceries and packages on demand — one day it wants to be a “super app for Africa.” Read how the company is taking a bite out of Nigeria’s food delivery market.

Boris Johnson breaks royal protocol
The former British prime minister made claims in his upcoming memoir that Queen Elizabeth II had bone cancer before her death. Per standard policy, Buckingham Palace has not confirmed or denied Johnson’s assertions.

‘Diddy’ to soon face new allegations
More than 100 men and women intend to pursue new allegations against embattled media mogul Sean “Diddy” Combs in the coming weeks, according to an attorney representing the individuals.

TODAY’S NUMBER

500,000
That’s roughly how many votes have already been cast in the 2024 presidential election as of Tuesday in 27 states, according to election officials and research groups. Data shows that pre-election voting looks set to decline from the pandemic-era highs of 2020 when some voters were wary of voting in person due to guidelines from the CDC recommending social distancing.

TODAY’S QUOTE

“I’m a mother, a grandmother, a scientist and a woman of faith, and from today, by the will of the Mexican people, the president.”

— Claudia Sheinbaum, delivering a speech Tuesday after she was sworn in as the first female president of Mexico. Sheinbaum made promises to limit prices for gasoline and food, expand cash hand-out programs for women and children, support business investment, and crack down on the drug cartels that have strengthened their hold over much of the country.

TODAY’S WEATHER

Check your local forecast here>>>

AND FINALLY …

Historians unravel 130-year-old mystery 5 minutes into search
A lucky pair of maritime historians quickly found a Wisconsin shipwreck that had been missing for 130 years. Watch the video here.

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