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Wall Street's record-setting run ends ... Amazon-Outage ... Trump Hotel-Canada ...

By The Associated Press | Posted - Feb. 28, 2017 at 3:33 p.m.

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NEW YORK (AP) — It was 12 days of records on Wall Street. Until today, when a slide led by Target and other big retailers brought the market down a bit. Industrial stocks and phone companies were among the big losers. The Dow Jones Industrial average fell 25.20 points to 20,812.24. The Standard & Poor's 500 index slid 6.11 points to 2,363.64 and the Nasdaq composite index lost 36.46 points, to 5,825.44.

NEW YORK (AP) — Amazon's cloud-computing service, Amazon Web Services, is experiencing an outage in its eastern U.S. region, causing unprecedented and widespread problems for thousands of websites and apps. Amazon is the largest provider of cloud computing services in the U.S. Beginning around midday on the East Coast, one region of its "S-3" service based in Virginia began to experience what Amazon, on its service site, called "increased error rates."

VANCOUVER, British Columbia (AP) — President Donald Trump's two eldest sons were greeted by protesters today as they attended the grand opening of their company's new hotel and condominium tower in Vancouver, a Canadian city known for its diversity and progressive politics. Some demonstrators carried posters proclaiming, "Love Trumps Hate," and they surrounded the building's entrance while police and security officers in black suits gathered on sidewalks at the soaring tower. There were no reports of disturbances or arrests.

WASHINGTON (AP) — U.S. banks' earnings in the final quarter of 2016 rose 7.7 percent from a year earlier, as lending continued to grow and banks set aside less for losses on loans for the first time since late 2015. The data issued by the Federal Deposit Insurance Corp. showed strength in the industry more than eight years after the financial crisis struck. However, banks continued to post bigger losses on loans, especially for credit cards and commercial and industrial loans.

NEW YORK (AP) — Target, stung by the migration of its customers elsewhere, pledged today to spruce up its stores and make other investments in its business after delivering weak quarterly results and an outlook far below what analysts were expecting. The $7 billion investment comes as the retailer said profit for the quarter that includes the holiday season fell 43 percent, with strong online sales failing to offset slower business at its stores.

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The Associated Press


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