Wall Street rattled ... Crude rises ... Laptop talks recess
May. 17, 2017
NEW YORK (AP) — The growing political drama in Washington rattled Wall Street today, knocking the Dow Jones industrial average down more than 370 points and giving the stock market its biggest single-day slump in eight months. Investors worried that the headline-fueled political turmoil may hinder President Donald Trump's plans to cut taxes, roll back government regulations and other aspects of his pro-business agenda.
NEW YORK (AP) — The Standard & Poor's 500 index had its biggest drop since September, sliding 43.64 points, or 1.8 percent, to 2,357.03. The Dow lost 372.82 points, or 1.8 percent, to 20,606.93. The Nasdaq composite index, coming off setting two consecutive record highs, gave up 158.63 points, or 2.6 percent, to 6,011.24.
NEW YORK (AP) — Benchmark U.S. crude rose 41 cents, or 0.8 percent, to close at $49.07 per barrel in New York. Brent crude, used to price international oils, gained 56 cents, or 1.1 percent, to close at $52.21 per barrel in London. In other futures trading, natural gas fell 4 cents to $3.19 per 1,000 cubic feet. Wholesale gasoline was little changed at $1.60 per gallon. Heating oil rose 2 cents to $1.53 per gallon.
BRUSSELS (AP) — Talks on a proposed U.S. ban on laptops and tablets in flights from Europe ended today in Brussels with no ban — and a promise of more talks and better intelligence sharing. For days now, European Union officials have been hoping for details on the threat that prompted the proposed ban — the same details that President Donald Trump discussed with Russian diplomats at the White House last week.
DETROIT (AP) — Ford is getting leaner as it faces an onslaught of challenges, from slowing U.S. sales to high-tech challengers to its own disgruntled shareholders. The automaker said today it's cutting 1,400 non-factory jobs in North America and Asia Pacific. The company will offer voluntary early retirement and separation packages to around 10 percent of its salaried workers in departments such as sales, marketing and human resources.