Oil slump sell-off...Amazon HQ 2 announcement...CNN sues White House
NEW YORK (AP) — The steepest drop in oil prices in more than three years put investors in a selling mood Tuesday, extending a losing streak for the S&P 500 into a fourth day. Energy stocks led a late-afternoon sell-off on Wall Street after the price of U.S. crude oil plunged 7.1 percent to $55.69 a barrel, the lowest level since December 2017. Oil has now fallen for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries. Dow lost 101 points.
NEW YORK (AP) — Amazon has chosen a New York neighborhood and a suburb of Washington for its new East Coast headquarters. The online shopping giant ended its 14-month-long competition for second headquarters by selecting Long Island City, Queens, and Arlington, Virginia, as the joint winners. The company will receive more than $2 billion in tax credits and other incentives. One New York lawmaker calls that “massive corporate welfare.”
UNDATED (AP) — According to pilots, Boeing didn’t tell them about features of a new flight-control system in its 737 MAX that reportedly is a focus of the investigation into last month’s deadly crash in Indonesia. Pilots say they were not trained in new features of an automated anti-stall system in the aircraft that differ from previous models of the popular 737. The Lion Air crash killed all 189 people aboard.
NEW YORK (AP) — CNN is suing the Trump administration, demanding that correspondent Jim Acosta’s press pass to cover the White House be returned. The administration revoked it last week following the president’s contentious post-election news conference, citing Acosta’s refusal to hand over a microphone when the president said he was done talking to him. The White House, never shy about picking a fight with CNN, says bring it on.
NEW YORK (AP) — The nation’s leading e-cigarette maker is halting store sales of some flavors to deter use by kids. The announcement Tuesday by Juul Labs Inc. comes ahead of an expected government crackdown on underage sales of e-cigarettes. It will continue to sell flavors through its website and limit sales to those 21 and older.