NEW YORK (AP) — Stocks have fallen sharply. The market retreated today after President Donald Trump told industry executives that he would impose tariffs on imported steel and aluminum next week. Investors are afraid it’ll lead to retaliation from other countries and higher inflation. The S&P 500 dropped 36 points, or 1.3 percent, to 2,677. The Dow fell 420 points, or 1.7 percent, to 24,608. And the Nasdaq lost 92 points, or 1.3 percent, to end the day at 7,180.
NEW YORK (AP) — Oil prices continue to drop following a report on Wednesday that showed more crude supplies in inventories last week than analysts expected. Benchmark U.S. crude fell 65 cents to settle at $60.99 per barrel today in New York. And Brent crude, the international standard, lost 90 cents ending the day at $63.83 a barrel in London. Meanwhile, wholesale gasoline slipped 3 cents to $1.90 per gallon and heating oil fell 2 cents to $1.89 per gallon.
HARTFORD, Conn. (AP) — States are urging Delta Air Lines to relocate its Atlanta headquarters as Georgia lawmakers consider punishing the company for cutting ties with the National Rifle Association. Governors from Connecticut, New York and Virginia are among those pitching to the airline. Democratic Connecticut Gov. Dannel P. Malloy is touting his state as a good place to relocate Delta’s headquarters, given the state’s– quote — “commonsense gun laws.”
NEW YORK (AP) — The Securities and Exchange Commission late last year dropped its inquiry into a financial company that a month earlier had given White House adviser Jared Kushner’s family real estate firm a $180 million loan. It’s impossible to say those events are connected, but their timing has once again raised potential conflict-of-interest questions about Kushner’s family business and his role as an adviser to his father-in-law, President Donald Trump.
MYRTLE BEACH, S.C. (AP) — A McDonald’s customer says he bought a homeless man a meal and then both men were inexplicably told to leave the restaurant. The Myrtle Beach mayor and police say that’s not exactly what happened, and Mayor Brenda Bethune defended an officer’s response to the situation. It was captured on video. The officer said the homeless man needed to leave because he was asking McDonald’s customers for money.