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Stocks drop...Oil prices fall... Ford and Mazda fight recall



Estimated read time: 2-3 minutes

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NEW YORK (AP) — Stocks are lower today as energy companies fell with oil prices and a winning streak for technology companies ended. The Standard & Poor's 500 index slipped less than 1 point to 2,472. The Dow Jones industrial average fell over 31 points to 21,580. The Nasdaq lost 2 points to 6,387, ending a 10-day string of gains. And the Russell 2000 index of smaller-company stocks sank over 6 points to 1,435. Still, all four indexes remain near record highs.

NEW YORK (AP) — Oil futures are down about 2.5 percent today.. The near-month contract for benchmark U.S. crude lost $1.15 to $45.77 a barrel in New York. At the same time, Brent crude, the standard for international oil prices, shed $1.24, or 2.5 percent, to $48.06 a barrel in London.

NEW YORK (AP) — The U.S. government is seeking dismissal of criminal charges against two ex-traders at JPMorgan Chase & Co. in a scandal that caused over $6 billion in losses after a trader known as the "London Whale" became an unreliable witness. Acting U.S. Attorney Joon Kim says his office made the request in the case against Javier Martin-Artajo and Julien Grout. The government was unable to extradite the men.

DETROIT (AP) — Ford and Mazda are fighting an immediate recall of Takata air bag inflators. Earlier this month Takata filed documents with the U.S. government adding 2.7 million vehicles from Ford, Nissan and Mazda to a recall that affects more than 40 million vehicles. The vehicles have inflators with a drying agent that previously were thought to be safe. The government says the inflators will pose a safety risk if they aren't replaced.

WASHINGTON (AP) — The National Weather Service is canceling its contract with the union representing about 3,800 of its meteorologists and other workers in what could be the first major labor showdown of the Trump administration. The agency says it's a somewhat routine move to restart negotiations, but the union calls it a bizarre surprise. A Weather Service official says terminating the 16-year-old contract is the next step in the negotiating process.

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The Associated Press

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