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Wall Street has worst day since April amid tariff threat

NEW YORK (AP) — A monthslong calm on Wall Street shattered Friday, and U.S. stocks tumbled after President Donald Trump threatened to crank tariffs much higher on China. The S&P 500 sank 2.7% in its worst day since April. The Dow Jones Industrial Average dropped 878 points, or 1.9%, and the Nasdaq composite fell 3.6%. Stocks had been heading for a slight gain in the morning, until Trump took to his social media platform and said he's considering "a massive increase of tariffs" on Chinese imports. He's upset at restrictions China has placed on exports of its rare earths, which are ...

Weekly state unemployment number pushes past 46,000

Staff report Ohioans filed 46,114 unemployment claims Sept. 28 through Oct. 4, the Ohio Department of Job and Family Services reported Thursday. Initial unemployment claims for the period numbered 5,159 last week, 677 more than the previous week. Continued unemployment claims were 40,955, 398 fewer than the previous week. The state’s unemployment rate for August was 5% compared to the national unemployment rate of 4.3%. In August, Ohio’s labor force participation rate was 62.5% versus 62.3% nationally. Medina and Geauga counties had the state’s lowest unemployment rate for ...

PepsiCo says new products will soon boost customer demand

The Associated Press PepsiCo expressed confidence Thursday that new products — including protein-infused Starbucks coffee, low-sugar Gatorade and Doritos with all-natural ingredients — will boost flagging consumer demand in the coming year. Rapidly changing consumer preferences have dogged the maker of Frito-Lay snacks and Pepsi beverages. PepsiCo said Thursday that its food business revenue fell 3% in North America in the third quarter. But PepsiCo Chairman and CEO Ramon Laguarta said Thursday that the company is moving quickly to cut underperforming products and reinvest in ...

Tesla hit with probe after crashes involving self-driving feature

NEW YORK (AP) — Federal regulators have opened yet another investigation into Tesla’s self-driving feature after dozens of cases in which the cars ran red lights or drove on the wrong side of the road, sometimes crashing into other vehicles and causing injuries. The National Highway Traffic Safety Administration said in a filing that it is looking into 58 incidents in which Teslas reportedly violated traffic safety laws while using the company’s so-called Full Self-Driving mode, leading to more than a dozen crashes and fires and nearly two dozen injuries. The new probe adds to ...

Fed minutes: Most officials support more rate cuts as worries about jobs increase

WASHINGTON (AP) — Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, according to minutes from last month’s meeting released Wednesday. A majority of Fed officials felt that the risk unemployment would rise had worsened since their previous meeting in July, while the risk of rising inflation “had either diminished or not increased,” the minutes said. As a result, the central bank decided at its Sept. 16-17 meeting to reduce its key rate by a quarter-point to about 4.1%, its first cut this ...

Tesla offers cheaper versions of 2 vehicles in bid to win back market share

NEW YORK (AP) — Tesla rolled out new, cheaper versions of two of its electric car models on Tuesday in hopes the offerings will help revive flagging sales but investors dumped its stock anyway. The new Model Y, costing just under $40,000 with a stripped-down interior, comes in a brutal year for Tesla as it tries to attract more customers despite an aging lineup, stiff competition from foreign EV makers and anti-Elon Musk boycotts targeting the company. The reaction from the stock market after the news broke suggests the new models are not expected to help much. Tesla also ...