NEW YORK (AP) — Stocks appear to be on track for their biggest loss in several weeks. Concerns that China’s growth is slowing have sent oil prices lower, and that’s dragging down energy stocks. They are among the biggest decliners in the S&P 500, which was off more than 15 points in afternoon trading. The Dow has been down as much as 90 points, while the Nasdaq composite has lost more than one percent, down about 60 points.
NEW YORK (AP) — Hundreds of activists are protesting what they say is Wall Street’s role in the climate crisis at a demonstration in lower Manhattan’s financial district. Organizers say they want to bring attention to the role corporations play in stalling political action to combat global warming. Participants in the sit-on say they anticipate being arrested to push home their political point.
WASHINGTON (AP) — The leading inflation “hawk” at the Federal Reserve is stepping down. Charles Plosser says he will retire in March. Plosser has been president of the Fed’s Philadelphia regional bank since August 2006. He has dissented at the past two Fed meetings, when the central bank voted to maintain its plan to keep a key short-term rate at a record low for a “considerable time.” Plosser has voiced concerns that a continuation of low-interest rate policies could ignite inflation.
DETROIT (AP) — The death toll from crashes involving General Motors cars with faulty ignition switches is at least 21. The man who was hired by the company to compensate victims, attorney Kenneth Feinberg, says he’s received 143 death claims as of Friday, and 21 of those have been deemed eligible for payments. A spokeswoman says the rest are under review. Among more than 500 injury claims, 16 have been found eligible for compensation so far.
BROWNSVILLE, Texas (AP) — SpaceX founder Elon Musk says his company expects to spend $100 million in South Texas over the next three to four years on the first commercial orbital spaceport. Musk was joined by Gov. Rick Perry as SpaceX broke ground at the state’s southernmost tip today. The ceremony marked the start of construction at Boca Chica Beach, east of Brownsville. SpaceX is expected to create 300 jobs at the site.
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