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Article source, Article source, Exxon Mobil Corp. slumped as much as 3.3 percent as crude declined on speculation demand will slow.
No one is really willing to stick their neck out in this market,'' said Craig Hodges, a fund manager at Dallas-based Hodges Capital Management Inc., which oversees $1 billion. If you listen to the company forecasts and the news going on, there's no overwhelming reason to do so.''
The Standard - Poor's 500 Index dropped 3.1 percent to 890.35 at 11:14 a.m. in New York. The Dow Jones Industrial Average lost 260.61 points, or 2.9 percent, to 8,609.93, with all 30 of its companies retreating. The Nasdaq Composite Index fell 2.9 percent to 1,569.98. Almost 10 stocks declined for each that rose on the New York Stock Exchange.
Financials and raw material producers led the S-P 500 to a 40 percent retreat this year as profits for the world's biggest banks slumped and commodities tumbled
Proposed changes to the Land Transport Rules look set to ban motorists from using hand-held cellphones.
But the issue of whether to extend the ban to hands-free cellphones could be more controversial.
Public submissions on the rule changes, obtained by Radio New Zealand under the Official Information Act, show while there is support for a ban on hand-held cellphones, opinions are divided over whether the ban should extend to hands-free cellphones.
Those opposed to a ban on hands-free cellphones include the Automobile Association, the Road Transport Forum and the Insurance Council.
The New Zealand Transport Agency will summarise and analyse more than 90 submissions it received, before making recommendations to the Transport Minister.
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