Stock market today: Wall Street sinks after Fed signals fewer rate cuts next year. Dow drops 1,100

Stock market today: Wall Street sinks after Fed signals fewer rate cuts next year. Dow drops 1,100

NEW YORK (AP) — U.S. stocks sank to their second-worst loss of the year after the Federal Reserve signaled that it may deliver fewer interest rates cuts in 2025 than earlier thought. The S&P 500 dropped 2.9% Wednesday to pull further from its all-time high set a couple weeks ago. The Dow Jones Industrial Average sank more than 1,100 points, and the Nasdaq composite dropped 3.6%. Fed officials released projections showing they’re penciling in just two cuts to interest rates next year, instead of the four they were projecting a few months ago. Treasury yields ramped higher to add pressure on the stock market.… Continue Reading

Engines on 1.4 million Honda vehicles might fail, so US regulators open an investigation

Engines on 1.4 million Honda vehicles might fail, so US regulators open an investigation

DETROIT (AP) — U.S. auto safety regulators are investigating complaints that engines can fail on as many as 1.4 million Honda and Acura vehicles. The probe by the National Highway Traffic Safety Administration covers the 2016 through 2020 Honda Pilot and Acura MDX, as well as the 2018 through 2020 Honda Odyssey and Acura TLX. Also included is the 2017 through 2019 Honda Ridgeline. The agency says connecting rod bearings on vehicles with 3.5-liter V6 engines can fail, leading to complete engine failure. Honda recalled about 250,000 vehicles in 2023 to fix the same problem. But the agency says it has 173 complaints from owners who reported bearing failures, yet their vehicles weren’t included in the recall. A message was left Monday seeking comment from Honda.… Continue Reading

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