Wall Street woes ...Oil prices fall... Trump criticizes European automakers
UNDATED (AP) — Stocks have closed broadly lower on Wall Street, erasing the market’s gains for the week It appears investors are increasingly worried that the global economy is slowing down. Traders shifted money into bonds. The S&P 500 dropped 54 points, or 1.9 percent today, to 2,800. The Dow gave up 460 points, or 1.8 percent, to close at 25,502. The Nasdaq slid 196 points, or 2.5 percent, to 7,642. And the Russell 2000 fell 56 points, or 3.6 percent, to 1,505.
UNDATED (AP) — Energy futures finished mostly lower today. Benchmark U.S. crude oil slid 1.6 percent to settle at $59.04 a barrel in New York and Brent crude fell 1.2 percent to close at $67.03 a barrel in London. In other futures trading, wholesale gasoline added 0.3 percent to $1.32 a gallon, heating oil dropped 1.1 percent to $1.97 a gallon and natural gas fell 2.4 percent to $2.75 per 1,000 cubic feet.
WASHINGTOM (AP) — President Donald Trump has criticized European auto makers, suggesting he could impose tariffs on imports from companies such as BMW and Mercedes unless they build more plants in the United States. In an interview on Fox Business Network’s Mornings with Maria today, Trump said that he has rejected proposals from the European Union that would bring auto tariffs on both sides to zero.
PALM BEACH, Fla. (AP) — President Donald Trump says he has reversed his administration’s decision to slap new sanctions on North Korea. But it’s unclear which sanctions he’s referencing. White House press secretary Sarah Sanders says Trump “likes Chairman Kim and he doesn’t think these sanctions will be necessary.”
WEST PALM BEACH, Fla. (AP) — White House press secretary Sarah Sanders says President Donald Trump is committed to preventing President Nicolas Maduro and his regime from stealing Venezuela’s resources for personal gain. Sanders commented after the Trump administration sanctioned a major Venezuelan bank and four subsidiary banks. Sanders says Maduro and his regime are using the banks as slush funds to evade U.S. sanctions and to move money out of Venezuela.