Obama notes problems in Flint
DETROIT – President Barack Obama hailed the revival of the nation’s auto industry on Wednesday while acknowledging the water crisis in nearby Flint, Michigan, saying the detection of high levels of lead serve as a reminder that the government can’t shortchange basic services.
Speaking to auto workers after taking in the North American International Auto Show, Obama said, “I know that if I was a parent up there, I would be beside myself that my kid’s health could be at risk.” He said he met with Flint’s mayor the day before and promised federal help.
“I told her we are going to have her back and all the people of Flint’s back as they work their way through this terrible tragedy,” he said.
Oil prices continue to hammer stocks
NEW YORK – U.S. stocks slumped Wednesday as the price of oil suffered its worst one-day drop since September, and the Standard & Poor’s 500 index fell to its lowest level in almost two years.
Investors are worried that low oil prices mean there’s not that much demand for fuel. That would be a sign that growth in the global economy is slowing down. Stocks in the U.S. started sharply lower following widespread selling overseas and looked like they were headed for huge losses. At one point the Dow Jones industrial average fell as much as 565 points.
After a late recovery, the Dow closed down 249.28 points, or 1.6 percent, to 15,766.74. The S&P 500 index fell 22 points, or 1.2 percent, to 1,859.33. That is its lowest closing price since April 2014.
The Nasdaq composite, which briefly turned positive in the afternoon, lost 5.26 points, or 0.1 percent, to 4,471.69. The Dow is the lowest it’s been since August, and the Nasdaq is at its lowest since October 2014.
Several die in attack at Pakistan school
CHARSADDA, Pakistan – Islamic militants stormed a university in northwestern Pakistan on Wednesday, killing at least 20 people and triggering an hours-long gunbattle with security forces in an attack that echoed a horrifying assault by the Taliban a little over a year ago on a nearby army-run school.
The attack began shortly after classes started at the Bacha Khan University in Charsadda, a town 21 miles outside Peshawar, said Deputy Commissioner Tahir Zafar. The school may have been targeted because it is named for a late secular icon.
Lt. Gen. Asim Bajwa, the army spokesman, said 18 students and two teachers were killed.
Associated Press
