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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Sep 02, 2015
Page
5
U S vehicle sales look set to exceed 17 million this year while China slows due to smog controls and cooling economy. Volvo Cars reports an 18.3 percent U S jump with Europe up 6.5 percent and a 10 percent China decline as automakers rely on U S and Western Europe for growth.
U S regulators reduce the recall scope to about 23.4 million driver and passenger inflators in 19.2 million vehicles. Earlier estimates stood at 34 million. Eight deaths tied to the Takata defect are cited and 4.4 million inflators have been replaced.
U.S. stocks fell sharply led by the Dow dropping as much as 548 points while the S&P 500 slid over 2 percent with all 10 sectors down after a Chinese manufacturing gauge fell to 49.7 in August signaling slower growth. Shanghai shares dropped 1.2 percent as concerns about China’s economy persist.
The analysis notes September tends to be the market’s worst month with the S&P 500 averaging a 1.03 percent decline over 87 years. Traders follow seasonality and expect volatility to persist for several weeks, with experts citing historical patterns as a warning.
A brief retrospective highlights multiple downturns from 2000 to 2008 tied to earnings, oil prices, and the Lehman Brothers bankruptcy as the U.S. economy faced wide risks and looming geopolitical tensions. The notes reference oil shocks, credit concerns, and the European debt crisis shaping investor sentiment.
The FDA issued warning letters to five caffeine powder distributors after Logan Stiner, 18, of LaGrange, died last year from heart arrhythmia and seizure following powder ingestion. Officials urge clearer labels as the agency notes measuring servings with teaspoons is unsafe.
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