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Stocks end week on low note...Jury awards $289M to man who blames Roundup for cancer...Indicted congressman ends re-election bid

August 11, 2018

NEW YORK (AP) — Wall Street followed European markets lower Friday as investors worried about the financial stability of Turkey and how it might affect the global banking system. The Dow Jones Industrial Average dropped 196 points, the S&P 500 slid 20 and the Nasdaq composite sank 53 after rising for eight days in a row. Bond prices jumped, sending bank stocks lower.

NEW YORK (AP) — Energy companies rose slightly Friday as oil prices increased. Benchmark U.S. crude oil rose 1.2 percent to $67.63 a barrel in New York and Brent crude, the standard for international oil prices, rose 1.1 percent to $72.83 a barrel in London. Wholesale gasoline rose 2 percent to $2.04 a gallon. Heating oil added 1.3 percent to $2.14 a gallon. Natural gas lost 0.4 percent to $2.94 per 1,000 cubic feet.

SAN FRANCISCO (AP) — A jury has awarded $289 million in damages to a dying man who claims Monsanto’s popular Roundup weed killer gave him cancer, and his lawyer says the verdict could bolster thousands of similar lawsuits. A state Superior Court jury in San Francisco found Friday that Roundup contributed to Dewayne Johnson’s cancer and Monsanto should have provided a health warning label. Monsanto denies that Roundup is carcinogenic and says it will appeal.

SANTA ROSA, Calif. (AP) — The import tariffs imposed by President Donald Trump are boosting the cost of building a home by thousands of dollars, adding to the challenges of people trying to rebuild from California’s wildfire and other disasters. The CEO of the California Building Industry Association said tariffs on imported lumber and other construction materials could increase the cost of building a typical home by $20,000. Rising construction prices hit people who are seeking to rebuild but whose homeowners insurance policies have caps that are too low to cover the entire cost.

NEW YORK (AP) — A New York congressman charged with insider trading says he is ending his re-election bid. Chris Collins said Saturday that he will suspend his campaign and fill fill out the rest of his term. The Buffalo-area Republican was indicted Wednesday on charges he used inside information about a biotechnology company to make illicit stock traders. Collins has denied any wrongdoing and originally said he would remain on the ballot and fight the charges.

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