A "healthy" correction

The Dow tumbled 665 points in the biggest plunge since June 2016, as the worsening bond rout stirred angst that the Federal Reserve will accelerate its rate-hike schedule. Solid jobs data that underscored the strength of the economy sent bond bulls scurrying and rattled equity investors. Traders are wondering if the selloff is the start of something big, or as one analyst put it, "a healthy correction."

Fact-checking the GOP Russia memo. House Republicans contend in a newly released memo that FBI and Justice Department officials got a warrant to spy on a Trump campaign associate by misleading a surveillance court judge. Trump approved the memo’s public release over the FBI’s objections, and Democrats have dismissed the memo as a contrived account intended to protect the president. Here’s what the memo says and why it matters.

The record-low black unemployment rate Trump took credit for just jumped the most since 2012. The Labor Department’s latest jobs report shows joblessness among black Americans rose to 7.7 percent in January. Meanwhile, the report also shows the U.S. labor market began 2018 on a strong note with better-than-expected hiring and accelerating wage gains.

Janet Yellen gets a post-Fed gig. The head of the Federal Reserve, whose term ends on Saturday, will become a distinguished fellow at the Brookings Institution on Monday, joining her Fed predecessor Ben Bernanke at the Washington-based think tank. Jerome Powell will be sworn in as Fed chair on Monday.

Airport gun seizures hit record high. The number of guns TSA agents are confiscating is growing faster than the number of passengers going through security, and may be tied to concealed-carry laws. In 2017, an average of 10.8 guns were found in bags at U.S. airport security checkpoints every day, a 16.7 percent increase from the previous year. TSA agents also discovered grenades, gun power and, in one instance, an inert box of explosives.

How Ralph Lauren plans to be cool again. After a year of falling sales and internal turmoil, the grandfather of preppiness is trying to rescue his namesake brand from irrelevance. The strategy is to go back in time. Old styles, labels, and symbols will be resuscitated in a bid to restore the cachet that Ralph Lauren once enjoyed.

The host city of this year’s Super Bowl has established itself as one of the country’s best places to live, whether you’re an entrepreneur or a foodie. We’ve got the rundown on where to eat, where to drink, and where to stay.