Tech stocks slide…Moonves scandal sends CBS stock falling…Fed meets this week
NEW YORK (AP) – Technology stocks are falling again as recent Wall Street favorites like Twitter, Alphabet and Facebook extend their losses from last week. It’s a sharp turnaround for a group that had long been the stock market’s undisputed leader.
NEW YORK (AP) – Shares of CBS Corp. are falling on multiple reports that the CBS board is meeting to decide the fate of CEO Les Moonves as the company investigates sexual harassment claims against him. The claims, that Moonves harassed six women over decades, surfaced Friday in a report from the New Yorker. The drop in CBS shares follows a 6 percent decline on Friday when the report first surfaced.
WASHINGTON (AP) – The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time. If those concerns weren’t enough, Trump has openly expressed his displeasure at the Fed’s interest rate increases – something no president has done publicly in more than two decades.
SPRINGDALE, Ark. (AP) – Tyson Foods is citing higher tariffs and uncertainty about trade policies in cutting its profit forecast. The company says the tariffs are primarily affecting chicken and pork prices, in the U.S. and elsewhere. President Donald Trump has imposed tariffs on a range of goods, and China retaliated with tariffs on U.S. exports.
BUTTE, Mont. (AP) – The Environmental Protection Agency says an agreement has been reached over the cleanup of a century’s worth of smelting waste in the southwestern Montana town of Anaconda. The agreement among the EPA, the Atlantic Richfield Co., the state of Montana and Anaconda-Deer Lodge County came Saturday after negotiations last week. The EPA had given the parties until Tuesday to reach an agreement in principle or would have imposed a cleanup order.