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Stock market today: Big Tech stocks drag Wall Street down again

Published Fri, 07 Feb 2025 02:49:06 GMT

NEW YORK (AP) — Wall Street is sinking again on worries that a too-warm economy will push the Federal Reserve to keep interest rates higher for longer. The S&P 500 fell 0.7% early Thursday, on track for a third straight loss. Big Tech stocks were particularly weak, and the Nasdaq composite was down 1.5%. The Dow was holding up better than the rest of the market, rising 0.2%, because it has less of an emphasis on tech. Stocks were feeling pressure from the bond market, where yields rose a day before due to a report showing growth for services industries accelerated more than economists expected last month. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street is pointing toward a third straight day of losses and global markets are falling as well with more signs of an economic slowdown in China despite efforts by Beijing to turn it around. Futures for the S&P 500 slipped 0.4%, while the Dow Jones Industrial Average lost 0.1%. Nasdaq futures are off 0.8%...

Trudeau eyes Indo-Pacific trade deals to avoid China aim to ‘play us off each other’

Published Fri, 07 Feb 2025 02:49:06 GMT

SINGAPORE — Prime Minister Justin Trudeau says Canada’s rocky relations with China have stabilized, while telling business leaders in Singapore that Ottawa has committed to a timeline for trade deals with the region.“I don’t think the idea of crossing our arms and turning our backs on any part of the world is something that is good for the Canadian economy,” he said Thursday at an onstage event held by Bloomberg.Trudeau is undertaking a weeklong visit to Indonesia, Singapore and India with a focus on shoring up trade in a region Ottawa sees as key to counteracting coercive economic moves by China. He noted that his visit comes as western countries co-ordinate their approach to trade with Beijing. Trudeau said that’s a change from competing against each other for export opportunities that China could leverage, such as by limiting trade during diplomatic spats or unwanted human rights discussions.“They just would play us off each other just a little...

Ta’Kiya Young had big plans for her growing family before police killed her in an Ohio parking lot

Published Fri, 07 Feb 2025 02:49:06 GMT

Ta’Kiya Young treated her two little boys like kings, dressing them sharply, letting them have too many sweets, cooking them big gourmet meals of T-bone steak with broccoli, cheese and rice.The royal life also awaited her unborn daughter.When Young found out she was pregnant with her third child — a girl — she was thrilled. The 21-year-old Ohio mom and aspiring social worker bought a stack of adorable onesies in anticipation of the baby’s arrival. She scheduled a photo shoot to show off her baby bump. She applied for public housing and looked forward to the day when she and her growing brood would have a place to call their own.Instead, Young’s grieving family prepared for her funeral on Thursday, exactly two weeks after a police officer in the Columbus suburbs fatally shot her in her car in a supermarket parking lot.Their Aug. 24 encounter, captured on police bodycam video released last week, was the latest in a troubling series of fatal shootings of Black adults and children by Oh...

Poland’s opposition accuses the government of allowing large numbers of migrants, corruption

Published Fri, 07 Feb 2025 02:49:06 GMT

WARSAW, Poland (AP) — Poland’s main opposition leader accused the conservative government on Thursday of hypocrisy for allegedly admitting large numbers of foreign workers despite its anti-migrant rhetoric and a new border wall. Donald Tusk, a former prime minister and former top European Union official, said the government’s actions were in stark contrast with its official policy declarations.Tusk, leader of the opposition Civic Coalition, and Polish media allege that the government admitted about 130,000 Muslim migrants last year despite its anti-migrant statements, aimed chiefly at non-Christians. They say the government is working to relax restrictions and allege that corruption and pressure from international work agencies are involved. Allegations that the government has opened the doors to Middle East migrants are linked to the surprise firing last week of Deputy Foreign Minister Piotr Wawrzyk. The dismissal came as the state Anti-Corruption Office was conducting an ins...

Police officer killed, another injured in car crash in Hartford

Published Fri, 07 Feb 2025 02:49:06 GMT

HARTFORD, Conn. (AP) — A police officer was killed and another was injured Wednesday night in a car crash in Connecticut’s capital city, authorities said.Police said one person was in custody after the accident involving a police cruiser and another car just west of downtown Hartford. Officials have not said why the person was detained, what caused the accident or whether the officers were chasing the other car.The injured officer was in stable but guarded condition at a nearby hospital, police said.The police cruiser had extensive damage to the passenger side.Early Thursday morning, a procession of police transported the dead officer’s body from the hospital to the chief medical examiner’s office in Farmington.Authorities have not released the names of the officers or the person in custody.Police officials were expected to release more details later Thursday.The Associated Press

An archaeological find on an island in southern Norway is dubbed the gold find of the century

Published Fri, 07 Feb 2025 02:49:06 GMT

COPENHAGEN, Denmark (AP) — At first, the Norwegian man thought his metal detector reacted to chocolate money buried in the soil. It turned out to be nine pendants, three rings and 10 gold pearls in what was described as the country’s gold find of the century.The rare find was made this summer by 51-year-old Erlend Bore on the southern island of Rennesoey, near the city of Stavanger. Bore had bought his first metal detector earlier this year to have a hobby after his doctor ordered him to get out instead of sitting on the couch. Ole Madsen, director at the Archaeological Museum at the University of Stavanger, said that to find “so much gold at the same time is extremely unusual.” “This is the gold find of the century in Norway,” Madsen said.In August, Bore began walking around the mountainous island with his metal detector. A statement issued by the university said he first found some scrap, but later uncovered something that was “completely unreal” — the trea...

Carrasco dismisses criticism of human rights in Saudi Arabia after transfer to Al Shabab

Published Fri, 07 Feb 2025 02:49:06 GMT

BRUSSELS (AP) — Belgium midfielder Yannick Carrasco made light of the criticism of Saudi Arabia’s poor human rights record on Thursday following his transfer to Al Shabab from Atletico Madrid.Carrasco, who is training this week with the Belgian national team ahead of a couple of European Championship qualifiers, asked the staff to organize a news conference so he could explain the reasons behind his move.Carrasco follows many stars from Europe’s top leagues who have headed to the lucrative Saudi league in recent months, including Cristiano Ronaldo, Neymar and Karim Benzema.Asked about the country’s human rights record, Carrasco said he disagrees with the criticism “because people can sometimes think badly about things.”“Cristiano is there with his wife and has an ordinary life there,” Carrasco said. “Neymar, Benzema, I went there myself. I see how women live there, and how people go about their lives. Honestly, it is a beautiful country. It is hard to judge if you only listen ...

Long opposed to rate increases, Erdogan now backs plan that includes raising rates, minister says

Published Fri, 07 Feb 2025 02:49:06 GMT

ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan, long a proponent of cutting interest rates, now supports his advisers’ economic plan that includes raising rates, a member of his economic team said Thursday.In a theory that runs contrary to traditional economic thinking, Erdogan has long pressured Turkey’s central bank governors to lower rates. The move was blamed for inflaming a cost-of-living crisis in the country.After winning reelection in May, however, Erdogan appointed a new economic team, including two accomplished bankers, signaling a turn to more conventional policies. But questions have lingered over whether the team would retain Erdogan’s backing or whether the Turkish leader would reinstate unorthodox policies.“Whether it’s disinflation or the fiscal program, the president’s support is complete,” said Mehmet Simsek, a former Merrill Lynch banker whom Erdogan re-appointed as finance minister, told a group of journalists. “There isn’t the sli...

Emerald Fennell on ‘Saltburn,’ class and Barry Keoghan: Fall Movie Preview

Published Fri, 07 Feb 2025 02:49:06 GMT

NEW YORK (AP) — Countless English protagonists have for decades been making their way to grand country estates where their lives are irrevocably changed. “Brideshead Revisited.” “The Go-Between.” “Remains of the Day.” “Rebecca.”These are some of the books that Emerald Fennell grew up devouring. And when the dust had settled on “Promising Young Woman,” her incendiary Oscar-winning directorial debut, Fennell, too, wanted to make her way to a fictional stately manor.“I really wanted to make a movie that was a take on the classic English gothic story,” Fennell says. “It felt like an incredibly well-worn and therefore intriguing genre to start looking at and applying pressure to.”In “Saltburn,” which opens in theaters Nov. 24, Fennell applies her particular and potent brand of pressure to the one of the longest standing British genres. And given the bleakly vengeful conclusion of her provocative debut, it’s safe to say that things get quite a bit bumpier at Saltburn than they ever did at...

16-year-old seriously injured, 3 others hurt in Northwest Indiana crash

Published Fri, 07 Feb 2025 02:49:06 GMT

HOBART, Ind. — A teenager was seriously injured after the vehicle they were driving was struck by another Wednesday in Northwest Indiana.Police said the vehicle, operated by a 16-year-old, was traveling west on Crabapple Lane and entered onto Liverpool Road in Hobart.As the vehicle turned onto Liverpool, it was struck by a driver in another vehicle.The 16-year-old driver was transported to an area hospital in serious condition. Their two occupants were also transported for treatment. Police: Motorcyclist weaving in traffic crashes, dies in suburbs The driver of the other vehicle was transported as well. A condition was only available for the 16-year-old.