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Dark day on Wall Street...Oil prices plunge... More homes for sale

May 23, 2019

UNDATED (AP) _ Heightened worries that the U.S. and China are headed for a long standoff in their costly trade dispute put investors in a selling mood today. Stocks ended sharply lower on Wall Street in a broad sell-off. The S&P 500 fell 34 points, or 1.2%, to 2,822. The Dow lost 286 points, or 1.14%, to close at 25,490. The Nasdaq dropped 122 points, or 1.6%, to 7,628 while the Russell 2000 gave up 30 points, or 2%, to end the trading day at 1,501.

UNDATED (AP) _ The price of U.S. oil fell sharply today. Benchmark U.S. crude plunged 5.7% to settle at $57.91 a barrel in New Yorika. It’s down 7.8% for the week. Brent crude, the international standard, closed 4.5% lower at $67.76 per barre in London. In other commodities trading, wholesale gasoline slid 3.9% to $1.91 per gallon. Heating oil lost 4.2% to $1.96 per gallon and natural gas rose 1.4% to $2.58 per 1,000 cubic feet.

UNDATED (AP) _ Homebuyers in some of the biggest U.S. cities are seeing a pickup in the number of homes for sale, especially in the most affordable segment of the market. The inventory of homes in the bottom third of the market by price rose 3.5% in the first quarter, the most in at least six years. Still, the rise in home listings in many metropolitan areas is mainly due to properties sitting on the market longer at prices fewer people can afford.

WASINGTON (AP) _ President Donald Trump has rolled out another $16 billion in aid for farmers hurt by his trade policies, and financial markets shook on the growing realization that the U.S. and China are far from settling a bitter, year-long trade dispute. Agriculture Secretary Sonny Perdue says that the first of three payments is likely to be made in July or August and suggested that the U.S. and China were unlikely to have settled their differences by then.

SAN FRANCISCO (AP) _ Facebook says more than 3 billion fake accounts were removed from October to March -- twice as many as the previous six months. But more fake accounts are still slipping through. Facebook’s detection tools are getting better, but so are the efforts by the creators of these fake accounts.

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