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Stocks continue to plunge...Deere cuts outlook...Safety regulators look into air bags on 2008 Honda Accords

By The Associated Press | Posted - Aug. 21, 2015 at 8:40 a.m.



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NEW YORK (AP) — Stocks are sharply lower again, a day after Wall Street's worst performance in 18 months. The Dow Jones industrial average has fallen more than 200 points in early trading. Today's plunge is being blamed on continuing worries about China's economy and uncertainty over Greece's bailout after its prime minister decided to resign.

NEW YORK (AP) — Deere & Co. has cut its full-year outlook, saying it expects the weak agriculture and energy sectors to continue dragging down equipment sales. The agricultural equipment manufacturer has been facing a downturn in equipment sales as weak commodity prices hold back farmers from buying new equipment. And a weak energy sector has been dragging down construction equipment sales.

DETROIT (AP) — U.S. auto safety regulators are investigating reports that air bags on some older Honda Accords may not inflate in a crash. The probe by the National Highway Traffic Safety Administration covers about 384,000 cars from the 2008 model year. The agency says it's received 19 consumer complaints that the air bag control computer failed.

DETROIT (AP) — U.S. safety regulators have rejected an electrical engineer's request to investigate unintended acceleration in Toyota and Lexus cars. The California man says his 2009 Lexus suddenly surged and crashed in a parking lot and the car's event data recorder shows the gas pedal wasn't pressed. But the National Highway Traffic Safety Administration says the three crashes cited by the engineer are consistent with the driver mistakenly hitting the gas. The agency says the issue was examined in two previous government studies.

NEW ORLEANS (AP) — With the 10th anniversary of Hurricane Katrina approaching, Wal-Mart is announcing a $25 million, five-year commitment to support disaster recovery efforts around the world. The corporation and its charitable foundation announced the plans today in New Orleans as part of more than a week's worth of observances in the city and along the Gulf Coast. Wal-Mart says the commitment includes an initial $500,000 in grants to nonprofits in the Gulf Coast region.

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The Associated Press

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