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Stocks slump ... Foot Locker plunges ... Crude jumps

August 18, 2017

NEW YORK (AP) — U.S. stocks slumped in the final minutes of trading today and ended a rough week with more losses. Bad news from sporting goods retailers weighed on the market. The losses eased and stocks briefly turned higher following reports that President Donald Trump’s chief strategist, Steve Bannon, left his White House post. Investors felt that makes it a bit more likely the administration can achieve at least some of its pro-business agenda.

NEW YORK (AP) — The S&P 500 lost 4.46 points, or 0.2 percent, to 2,425.55. The Dow Jones industrial average fell 76.22 points, or 0.3 percent, to 21,674.55. The Nasdaq composite shed 5.39 points, or 0.1 percent, to 6,216.53. The Russell 2000 index of smaller-company stocks gave up 1.15 point, or 0.1 percent, to 1,357.79. The index has fallen 6 percent since July 25.

NEW YORK (AP) — Athletic gear retailer Foot Locker plunged to its biggest loss in almost nine years. The company said some high-priced sneakers didn’t sell as well as it hoped, and there aren’t a lot of exciting new shoes on the market. It doesn’t expect that problem to clear up soon and it now plans to close at least 135 stores, up from 100. The stock dropped $13.32, or 27.9 percent, to $34.38 in heavy trading.

NEW YORK (AP) — Energy companies rose as benchmark U.S. crude oil jumped $1.42, or 3 percent, to $48.51 a barrel in New York. Brent crude, the international standard, added $1.69, or 3.3 percent, to $52.72 a barrel in London.

SALT LAKE CITY (AP) — Eclipse mania is building and so is demand for the glasses that make it safe to view the first total solar eclipse to cross the U.S. in 99 years. Lines are forming, prices are rising and shelves are emptying as people scurry to obtain special eyewear to view the sun Monday as it is obscured by the passing moon. The ones still for sale on Amazon were going for steep prices today, around $11-$12 each.

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