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NEW YORK (AP) — It's been a down day on Wall Street, with stocks ending broadly lower. Banks and materials companies took some of the biggest losses. The S&P 500 fell 7 points, closing at 2,375. The Dow lost 51, dropping below 21,000 to 20,954. And the Nasdaq composite shaved 21 points, finishing at 5,849. The Russell 2000, which tracks smaller companies, lost 9 points to 1,384. All four indexes reached all-time highs last week.
PARIS (AP) — French automaker PSA Group has agreed to buy General Motors' European business, which hasn't made a profit for GM since 1999. Investors were glad to see it go, as GM's stock jumped almost 5 percent when the talks were disclosed last month. PSA makes Peugeot and Citroen cars, and the addition of the Opel and Vauxhall brands will make it the second-largest automaker in Europe. Its stock rose 2.7 percent today, while GM's stock dipped 39 cents, to $37.84.
DETROIT (AP) — General Motors is laying off 1,100 workers at an assembly plant in Michigan. GM says it's ending the third shift at its Lansing Delta Township plant because one of its products — the GMC Acadia SUV — is moving to Spring Hill, Tennessee. The Lansing plant will still have two shifts building the Buick Enclave and Chevrolet Traverse SUVs. Lansing's last day as a three-shift plant will be May 12.
HOUSTON (AP) — Exxon Mobil says it plans to spend $20 billion over 10 years on refineries, and chemical and liquefied natural gas plants along the Gulf Coast. Chairman and CEO Darren Woods says the work will create 12,000 permanent jobs and 35,000 construction jobs. Exxon currently has about 71,000 employees.
NEW YORK (AP) — Federal researchers have created a new tool to clean up oil spills by tinkering with the kind of foam found in seat cushions. Researchers say the modified foam can soak up oil floating on water and lurking below the surface, and then can be repeatedly wrung out and reused. Co-inventor Seth Darling at the Argonne National Laboratory near Chicago says: It "just bounces back like a kitchen sponge."
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