WXXI AM News

Avie Schneider

Tesla CEO Elon Musk is known for being outspoken and unscripted. But he took that to a new level in a remarkably blunt and contentious call with Wall Street analysts Wednesday after the automaker reported a record loss of more than $700 million last quarter.

"Excuse me. Next, next," an irritated Musk said on the conference call with analysts who follow the company. "Boring, bonehead questions are not cool. Next?"

Updated at 4:15 p.m. ET

The Dow Jones industrial average lost 459 points Monday, falling 1.9 percent, as tech stocks led the markets down and investors eyed growing trade tensions with China. Earlier in the day, the Dow was down more than 700 points.

Amazon tumbled more than 5 percent after President Trump criticized the company in tweets. The tech-heavy Nasdaq index lost 2.7 percent. The S&P 500 index lost 59 points, or 2.2 percent.

Updated at 4:05 p.m. ET

U.S. stock indexes surged about 3 percent Monday after fears eased of a trade war with China. The two big trading partners reportedly are negotiating to improve U.S. access to Chinese markets.

The Wall Street Journal reported that the U.S. and China have "quietly started negotiating" and that U.S. Treasury Secretary Steven Mnuchin is considering a trip to Beijing for talks.

When President Trump announced that the United States would impose tariffs on steel and aluminum imports earlier this month, European allies warned that they could retaliate. Targets might include classic American exports such as bourbon, blue jeans and Harley-Davidson motorcycles.

Now, the European Union has published a 10-page list of hundreds of U.S. products that could be subject to European tariffs.

Updated at 5:05 p.m. ET

A day after dropping more than 1,000 points, the Dow rebounded Friday to close up more than 300 points. But the index lost nearly 5 percent for the week as the markets focused on rising interest rates, inflation and ballooning government debt.

Updated at 4:55 p.m. ET

The stock market went on a wild ride again on Monday, with the Dow Jones industrial average closing down 1,175 points, its worst point drop in history. The Dow closed down 4.6 percent and turned negative for the year.

At one point Monday afternoon, the Dow was down 1,579 points — the largest intraday point drop in the history of the index.

Updated at 6:01 p.m. ET

Major stock indexes dropped sharply Friday, with the Dow Jones industrial average tumbling 666 points amid signs that wage growth is finally picking up.

The 2.6 percent drop in the Dow came as the Labor Department reported that 200,000 jobs were added to the economy last month, which was stronger than expected, and the unemployment rate stayed at 4.1 percent — the lowest since 2000.

Updated 12:55 a.m. ET Monday

People traveling through Atlanta's Hartsfield-Jackson International Airport struggled to get home Sunday after a power outage there forced hundreds of flight cancellations.

Officials announced that power had been fully restored to the airport shortly after midnight.

The power went out early Sunday afternoon and hundreds of flights at the world's busiest airport ended up canceled. Many travelers were stuck in grounded planes for hours.

The Thomas Fire in Southern California has raged for nearly two weeks, and on Saturday new evacuation orders were issued in Santa Barbara County as a local zoo made preparations to move some of its animals out of the danger zone.

The wildfire, which has burned 259,000 acres and destroyed more than 1,000 structures, is considered the third-largest in state history. Officials said about 18,000 homes and other buildings are threatened by the blaze, which is only 40 percent contained.

A Japanese maker of materials used in airplanes and car parts has admitted that one of its subsidiaries falsified quality-assurance data, the latest in a string of Japanese industrial giants to mislead customers.

Toray Industries said Tuesday that it had identified 149 instances of altered data between 2008 and 2016. The products involved affected 13 customers and included cords used for tires and car hose belts.

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