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Ticker: Wall Street retreats from its record as stocks fall

Local Business

U.S. stocks pulled back from their record. The S&P 500 slipped 0.2% Wednesday, a day after topping its prior all-time high set in August. The Dow Jones Industrial Average dropped 0.7%, and the Nasdaq composite fell 0.2%. Stocks felt pressure as yields climbed worldwide because of high inflation, rising debt loads for governments and other concerns. In France, whose bond market has had some of the world’s sharpest swings, the CAC 40 index of stocks dropped 1.2%. Oil prices also swung through the day, and the price of a barrel of Brent topped $102 before pulling back toward $100. IMF ...

Lawyer: Cornell rape accuser ‘misled’ about investigation

National News

ITHACA, N.Y. — The woman accusing several men of raping her at a Cornell University fraternity party was “misled” about the status of the criminal investigation in the weeks after she went to police, her lawyer said Wednesday. Even as she took her allegations about a 2024 gang rape at ...

Diesel tax cut might not bring farmers relief

National News

SIOUX FALLS, S.D. — Farmers, truckers and economists say a move to cut taxes on diesel will provide little relief from record-high fuel prices that have soared since the U.S. attacked Iran months ago. Industry groups said they appreciate President Donald Trump’s executive order expanding ...

Iran devalues currency amid conflict

Local Business

BAGHDAD — Iraq devalued its currency Wednesday, changing the official exchange rate from around 1,300 Iraqi dinars to the dollar to 1,500 dinars to the dollar. The country’s central bank said in a statement that the new exchange rate had been decided at a meeting of Iraq’s Cabinet the night before “to meet the relevant financial, economic and monetary requirements.” The previous exchange rate was set in 2023. In practice, there has always been a gap between the official rate and the market rate used by exchange shops. That gap had widened in recent months as a result of the ...

Fed: Another rate hike likely coming this year

Local Business

WASHINGTON — Most Federal Reserve officials expect that another interest rate increase will likely be needed this year to combat inflation, according to minutes released Wednesday from the central bank’s most recent meeting. The officials unanimously agreed that inflation was still ...

Briefcase: Tuscarora Wayne supports Kish for the Cure

Local Business

STATE COLLEGE The Tuscarora Wayne Mutual Foundation, the charitable foundation of Tuscarora Wayne Insurance Company, has contributed $3,000 to Kish for the Cure, Kish’s employee-led fundraising campaign benefiting local cancer-fighting organizations. The gift was made through the Kish Community Foundation, which administers charitable contributions for the campaign. The contribution was presented at the Kish Innovation Center in Reedsville, where representatives from Kish and Tuscarora Wayne gathered to celebrate their shared commitment to strengthening the communities they ...