Stocks head lower on Fed stimulus worries
NEW YORK — The Federal Reserve guessing game threw the markets for another loop Tuesday.
Comments from a Fed official raised expectations that the Fed could start easing off its support for the economy soon, sending the stock market sharply lower in the afternoon. The market recovered late to end with slight losses.
The Dow Jones industrial average lost 76.49 to 15,177.54. The S&P 500 fell 9.04 to close at 1,631.38. The Nasdaq composite fell 20.11 to 3,445.26.
Harris Teeter pulls berry blend off shelves
Harris Teeter on Tuesday pulled from its stores Harris Teeter Organics Antioxidant Berry Blend supplied by Townsend Farms because the Food and Drug Administration is investigating an outbreak of hepatitis A linked to the frozen-food item.
The UPC code is 7203670463 with code dates of T041613C and T041613E.
Customers who bought the product are urged not to eat it, but to discard it or return it for a full refund. Information about the recall is posted at www.harristeeter.com and in stores. Customers with questions can call Townsend Farms at 1-800-875-5291.
Report: Fashion Week made impact of $2.6M
Baker Motor Co. Charleston Fashion Week boosted the local economy by more than $2.6 million in March, according to the Office of Tourism Analysis at the College of Charleston.
Organizers said record attendance, sponsor participation and international media attention helped raise the profile on one of the leading fashion weeks in the U.S., now in its seventh year.
Total expenditures per out-of-town attendees averaged $1,200, while local residents spent about $500, the college said.
Chrysler defies request to recall 2 Jeep models
DETROIT — A defiant Chrysler is refusing to recall about 2.7 million Jeeps the government said are at risk of a fuel-tank fire in a rear-end collision.
The National Highway Traffic Safety Administration sent Chrysler a letter asking that the company voluntarily recall Jeep Grand Cherokees from 1993 through 2004 and Jeep Libertys from 2002 through 2007.
Chrysler said the Jeeps are safe, and it “does not intend to recall the vehicles.” The NHTSA can order a recall but may need a court order to enforce it.
U.S. home prices up in April by most in 7 years
WASHINGTON — U.S. home prices soared 12.1 percent in April from a year earlier, the biggest gain since February 2006, as more buyers competed for fewer homes.
Real estate data provider CoreLogic said prices rose in April from the previous April in 48 states. Prices rose 3.2 percent in April from March, much better than the previous month-to-month gain of 1.9 percent.
Dine with Buffett? Bids top $750,000 for lunch
OMAHA, Neb. — The price of a private lunch with billionaire Warren Buffett has topped $750,000, and the online auction to raise money for a California homeless charity continues all week.
The eBay auction began Sunday with a $25,000 opening price. Last year’s winner paid $3,456,789. Bidding continues until 10:30 p.m. Friday.
Staff and wire reports