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Ticker: Top auto regulator opens special probe

The top U.S. auto regulator has opened an investigation after a Tesla using an automated driving feature slammed into a Texas home at high speed and killed a 76-year-old woman standing inside.

The National Highway Traffic Safety Administration said Monday it was opening a special investigation into the Tesla Model 3 crash, a significant probe since it involves technology that Elon Musk considers key to Tesla’s future. The Tesla CEO is rolling out robotaxis using automated software in several U.S. cities this year. Tesla did not immediately reply to a request for comment.

Quieter Fed. Reserve could mean volatile markets

The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy.

New chair Kevin Warsh has begun to reverse some of those steps because he believes that by signaling its intentions the Fed pigeonholes itself into a position on interest rates. Yet such an approach carries the risk of more violent swings in stock and bond prices, analysts say, and ultimately higher interest rates for consumers and businesses.

US stocks drift after oil prices ease

U.S. stocks drifted through a mixed day of trading after oil prices eased and falling Big Tech stocks weighed on Wall Street. The S&P 500 slipped 0.4% Monday and pulled 1.8% below its all-time high set early this month.

The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite slumped 1.3%. Oil prices fell roughly 3% following negotiations between the United States and Iran on ending their war. But drops for giants like Alphabet and Amazon weighed on the market, which resumed trading following a three-day weekend. Rising Treasury yields in the bond market also pressured stock prices.

L.A. firefighters battling cold storage warehouse fire

Firefighters are still battling a blaze at a massive frozen-food storage facility near downtown Los Angeles six days after the fire started. Smoke is pouring from the warehouse, which is heavily insulated and whose roof is covered in solar panels.

The fire started Wednesday, possibly linked to work on solar panels. Fires in cold storage facilities can burn for weeks because of their construction. Air quality warnings remain in effect, and residents are concerned about the materials burning inside. Officials warned residents in Boyle Heights to stay indoors or wear masks due to smoke pollution.

Asian shares are trading mixed amid Iran war

Asian shares are mixed in subdued trading as recent enthusiasm cools and markets face uncertainty about efforts to end the war in Iran.

Benchmarks rose in early Tuesday trading in Tokyo and Shanghai, while falling in Seoul and Hong Kong and being little changed in Sydney. U.S. stocks drifted through a mixed day of trading after oil prices eased and falling Big Tech stocks weighed on Wall Street. The S&P 500 slipped 0.4% Monday and pulled 1.8% below its all-time high set early this month. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite slumped 1.3%. Oil prices rose in Asian trading.

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