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NEW YORK (AP) — Technology companies are leading a broad drop in U.S. stocks, with the Dow Jones industrial average down more than 250 points in afternoon trading. The Nasdaq composite index, which is heavily weighted with technology stocks, has been down more than 85 points and the Standard & Poor's 500 index off 30. Apple dropped more than 3 percent after the company pulled back a software update for its iPhones over complaints that they weren't able to make calls.
DETROIT (AP) — Chrysler is recalling nearly 350,000 cars and SUVs to fix ignition switches that could unexpectedly shut off the engines. The recall covers 2008 Jeep Commander and Grand Cherokee SUVs, Chrysler 300 and Dodge Charger sedans, and Dodge Magnum wagons. All were built before May 12, 2008. Chrysler says the ignitions may not fully return to the "on" position after being started. Chrysler knows of one crash and no injuries from the problem.
NEW YORK (AP) — The price of a gallon of gasoline may soon start with a "2'' across much the country. Gasoline prices typically decline in autumn, and this year they're getting a big push lower from falling global oil prices. By the end of the year, up to 30 states could have an average gasoline price of under $3 a gallon, according to a forecast from GasBuddy.com. The national average is currently $3.35 per gallon, a dime below last year at this time.
TOULOUSE, France (AP) — Airbus has sent its latest jet up for its first flight above the skies of southern France today, amid high demand for the single-aisle A320neo and its promised fuel economy. The plane maker has already taken more than 3,000 orders for the plane, a revamped version of its best-selling A320 range of jets. A320s are mid-range jets that generally seat up to 180 passengers. The neo — or "new engine option" — incorporates an engine that uses less fuel and sharklet wing tips that help reduce fuel needs.
PAWTUCKET, R.I. (AP) — The Hub Network will become Discovery Family Channel next month and will include more family-oriented programs in the evenings while maintaining its children's content during the day. Discovery Communications will have a 60 percent ownership interest in the joint venture, with Hasbro holding the remaining 40 percent. The companies previously each had a 50 percent stake. Daytime programming will include some new Hasbro Studios' series along with existing shows from brands such as "My Little Pony" and "Transformers Rescue Bots."
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