Stocks fall ...Oil futures trade higher... Consumers borrowed more in January
UNDATED (AP) — Stocks fell again on Wall Street, marking the fourth straight loss for the S&P 500 and putting the benchmark index on track for its first weekly drop since January. Technology companies and banks led the way lower today. The S&P 500 dropped 22 points, or 0.8 percent, to 2,748. The Dow fell 200 points, or 0.8 percent, to 25,473 and the Nasdaq lost 84 points, or 1.1 percent, to close at 7,421. The Russell 2000 gave up 13 points, or 0.9 percent, to end up at 1,523.
UNDATED (AP) — Oil prices are higher today. Benchmark U.S. crude rose 0.8 percent to settle at $56.66 a barrel in New York while Brent crude, used to price international oils, gained 0.5 percent to close at $66.30 a barrel in London. In other energy futures trading, wholesale gasoline climbed 0.9 percent to $1.81 a gallon. Heating oil slipped 0.2 percent to $2.01 a gallon and natural gas gained 0.9 percent to $2.87 per 1,000 cubic feet.
WASHINGTON (AP) — Consumer borrowing rose at a slightly faster pace in January as borrowing on credit cards rebounded after a slowdown in December. The Federal Reserve says borrowing increased by $17.05 billion in January after a $15.36 billion December gain. The increase reflected acceleration in borrowing in the category that includes credit cards, up $2.57 billion, after a $939 million December gain. Borrowing for auto loans and student loans remained strong.
NEW YORK (AP) — Social media giant Facebook says it’ll remove groups and pages that spread misinformation about vaccinations on its site. It’s the latest step Facebook and other are taking to stem the tide of misinformation on social media sites. Facebook says it will take its cue from global health groups, such as the World Health Organization and the U.S. Centers for Disease Control and Prevention, which have publicly identified verifiable vaccine hoaxes.
ATLANTA (AP) — An ex-Equifax executive who sold shares for nearly $1 million a week and a half before the company announced a massive data breach has pleaded guilty to insider trading. Prosecutors say Jun Ying exercised all his available stock options before making the sale and realized a gain of more than $480,000. That’s about $117,000 more than the stock would have been worth after the price plummeted when the breach was disclosed.