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Stocks pare losses...EU vows retaliation against US tariffs...Only 13 NRA members used withdrawn Delta discount

March 2, 2018

NEW YORK (AP) — Stock indexes are mixed in afternoon trading on Wall Street after paring sharp losses from earlier. It’s the latest dizzying swing in a whirlwind week dominated by fears about a possible trade war and a more aggressive Federal Reserve.

WASHINGTON (AP) — The president of the European Union’s executive body says the EU will retaliate against planned U.S. tariffs on foreign steel and aluminum by taking aim at American exports such as blue jeans. Jean-Claude Juncker (zhahn-KLOHD’ YUN’-kur) says the 28-nation bloc will respond to U.S. import taxes by treating “American products the same way,” while abiding by World Trade Organization rules.

ATLANTA (AP) — Delta Air Lines says only 13 members of the National Rifle Association bought discounted tickets using a perk later withdrawn by the airline following the school massacre in Florida. An airline spokesman says the discounted fares had been available for a short time and were only for NRA members purchasing flights to the group’s 2018 convention in Dallas. Delta’s decision to end the NRA discounts triggered a showdown with pro-gun lawmakers in Georgia. Yesterday the legislature stripped a tax break on jet fuel from a broader tax bill.

NEW YORK (AP) — Wall Street is losing its appetite for McDonald’s, believing there aren’t many fans of its new Dollar Menu. Shares of McDonald’s Corp. are down 5 percent after David Palmer of RBC Capital Markets lowered his expectations for the company. Value menus have become the tool of choice at fast-food companies to generate traffic. In January, McDonald’s replaced revived its popular Dollar Menu, with items priced at 1, $2 or $3. Rivals Taco Bell and Wendy’s responded with their own value meals.

PORTLAND, Maine (AP) — Regulators in the state that dominates the U.S. lobster haul say the catch of the crustaceans fell to its lowest level since 2011 last year. The Maine Department of Marine Resources says fishermen in the state caught a little more than 110.8 million pounds of lobster last year. The state had topped 120 million pounds in five consecutive years. Maine fishermen also made slightly less money on lobster last year. But the industry remains strong. The 2017 catch numbers were the sixth highest on record, according to state data going back to 1880.

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