WEATHER FORECAST FOR FRIDAY, FEBRUARY 9TH, 2018

TODAY – GENERALLY CLOUDY. A FEW FLURRIES OR SNOW
SHOWERS POSSIBLE. HIGH – 42.

TONIGHT – CLOUDY. LOW – 37.

SATURDAY – SHOWERS IN THE MORNING BECOMING A
STEADY LIGHT RAIN LATER IN THE DAY.
HIGH – 42.

SUNDAY – OVERCAST WITH RAIN SHOWERS AT TIMES.
TEMPS NEARLY STEADY IN THE MID TO UPPER
30‘S.

NEW YORK (AP) — The latest on developments in financial markets (all times local):
4 p.m.
The Dow Jones industrial average plunged more than 1,000 points as a weeklong market swoon continued.
The Dow is 10 percent below the record high it set just two weeks ago, putting it in what is known on Wall Street as a “correction.”
The Standard & Poor’s 500, the benchmark for many index funds, is also 10 percent below the record high it set two weeks ago.
Worries about inflation set the market rout in motion last Friday, and many market watchers have been predicting a pullback after the market’s relentless march higher over the past year.
The Dow dropped 1,032 points, or 4.1 percent, to 23,860.
The S&P 500 gave up 100 points, or 3.8 percent, to 2,581. The Nasdaq lost 274 points, or 3.9 percent, to 6,777.
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3:40 p.m.
The Dow Jones industrials are down 800 points, extending the market’s losses.
Stocks started to fall in early trading and extended their losses throughout the morning.
The market’s turmoil began last Friday and has continued this week as investors worried about early signs of inflation.
Analysts have also been saying the market has gotten much too expensive after a huge run-up over the last year and has been long overdue for a pullback.
The Dow was down 810 points, or 3.3 percent, to 24,088.
The Standard & Poor’s 500 index gave up 77 points, or 2.9 percent, to 2,603.
The S&P 500 is down 9.3 percent from the record high it set January 26.
The Nasdaq composite lost 212 points, or 3 percent, to 6,838.
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12:27 p.m.
The Dow Jones industrials are down 500 points, extending the market’s losses.
The market opened little changed on Thursday but started to fall in early trading and extended its losses throughout the morning. The losses were steady, unlike the sharp swings seen over the past few days.
The benchmark Standard & Poor’s 500 index is now down 8 percent from the record high it set January 26. It’s still up 15 percent over the past year.
Technology companies, the leading sector over the past year, and banks fell the most. Microsoft lost 2.3 percent.
The Dow was down 501 points, or 2 percent, to 24,397.
The S&P 500 gave up 44 points, or 1.7 percent, to 2,637. The Nasdaq composite lost 125 points, or 1.8 percent, to 6,926.
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11:45 a.m.
Stocks are sliding further on Wall Street, putting the market on track for its second big weekly drop in a row.
The market got off to a mixed start on Thursday but has fallen steadily as the morning wore on.
Technology companies, the leading sector over the past year, and banks fell the most. Microsoft and JPMorgan Chase each lost 1.7 percent.
The losses, which began last Friday, put the benchmark Standard & Poor’s 500 index almost 8 percent below the record high it set two weeks ago.
The Dow Jones industrial average lost 400 points, or 1.6 percent, to 24,491.
The broader S&P 500 lost 34 points, or 1.3 percent, to 2,647. The Nasdaq composite lost 101 points, or 1.4 percent, to 6,947.
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9:35 a.m.
Stocks are mixed in the early going as traders digest a batch of company earnings reports.
Twitter soared 26 percent early Thursday after reporting its first-ever quarterly profit.
Hanesbrands sank 8.8 percent after its results came up short of analysts’ foreacasts. The company also issued a disappointing forecast.
Roomba maker iRobot plunged 24 percent after its earnings fell far short of what investors were expecting.
The Standard & Poor’s 500 index slipped 2 points, or 0.1 percent, to 2,679.
The Dow Jones industrial average fell 98 points, or 0.4 percent, to 24,800. The Nasdaq composite edged up 10 points, or 0.2 percent, to 7,061.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.87 percent.

By KEVIN FREKING and MATTHEW DALY, Associated Press
WASHINGTON (AP) — Republicans rode the tea party wave to power eight years ago on a message of fiscal responsibility and attacking budget deficits, and kept at it during President Barack Obama’s two terms. That was then.
The Republican-led Congress on Thursday was rounding up support for a bipartisan budget bill that would put the government on track for annual deficits topping $1 trillion, a gap last seen toward the end of Obama’s first term.
The projection for massive budget deficits has split Republicans. Dedicated fiscal conservatives criticized the plan while others accepted it as a necessary compromise to shore up military spending and keep the government running after a short-lived shutdown last month.
“I think the spending in this is reckless and irresponsible,” said Rep. Thomas Massie, R-Ky., a conservative who is backed by the tea party.
Sen. Bob Corker, R-Tenn., said the budget agreement was “doubling down on the irresponsible mentality in Congress of spend now, pay later. To say I am discouraged by the outcome of these negotiations would be an understatement.”
Corker voted for the recent Republican tax cut after raising similar concerns in the weeks leading up to the vote.
Republicans are pinning their long-term hopes on their $1.5 trillion tax cut, which they say eventually will stimulate enough economic growth to help reduce the deficit. GOP leaders were using that argument and a desire to boost military spending to sell the budget plan. Congress needs to approve a spending bill by midnight Thursday to avoid a partial government shutdown.
Many in the GOP ranks were willing to sign on despite the soaring deficit.
“It all comes down to one thing — economic growth. That’s where you take care of the debt and deficit,” said Rep. Dennis Ross, R-Fla.
Republicans supporting the package include defense hawks who say military readiness has been harmed by years of automatic budget cuts known as sequestration. The budget bill boosts defense spending by $165 billion over two years.
“If you vote no, you’re voting against fixing the military,” said Rep. Mac Thornberry, R-Texas, chairman of the House Armed Services Committee.
Conservative angst about the growing deficit was valid, he said: “But you are not going to fix them by cutting our military or by failing to provide the equipment that our troops need.”
Other lawmakers cited the need to keep the government running and boost domestic spending on infrastructure and programs such as community health centers. The budget plan also was drawing support from Republicans representing states that would benefit from $89 billion in aid to speed recovery from last year’s hurricanes and wildfires.
Still, some GOP activists worried that the deal reinforces the notion that congressional Republicans are not delivering on their promises to slash spending and reduce the size of government. The plan could demoralize some Republican voters, hurting the party’s efforts to keep its majorities in the House and Senate, they said.
Jason Pye, vice president of legislative affairs at Freedom Works, a conservative group that helped launch the tea party movement, said Republicans are retreating on their deficit- reduction message. The House Freedom Caucus, a group of conservatives that grew out of the tea party, denounced the deal for growing the size of government.
“The only folks who should be voting for this are the debt junkies, who love unsustainable spending bills,” said Rep. Mo Brooks, R-Ala., a freedom caucus member.
A leader of the GOP’s fiscal conservatives, Rep. Mark Walker of North Carolina, said he understands the frustration.
“You can make a case that it seems to be a little hypocritical because we ranted and raged during the eight years of Obama about the national debt,” said Walker, who said he will vote against the budget bill. “If it’s truly our core principle, it should be equal whoever is in the White House.”
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Follow Daly at https://twitter.com/MatthewDalyWDC and Freking at https://twitter.com/APkfreking

We have an update now on that fire in Koppel that left one man dead this morning. Beaver County Radio Newsman Pat Septak spoke with the Chief William Madden of the Koppel Volunteer Fire Department by telephone on where the investigation stands at this point…

The identity of the person killed has still not been released…but an autopsy is scheduled on the body this evening.

THE RENOVATION OF THE HOPEWELL FIRE STATION # 1 IS FINALLY COMPLETE. BEAVER COUNTY RADIO NEWS CORRESPONDENT SANDY GIORDANO HAS DETAILS. Click on ‘play’ to hear Sandy’s report…

BREAKING NEWS: At least one person has died as a result of a fire in Koppel. According to emergency dispatchers, the fire broke out in a garage in the 44-hundred block of Fourth Avenue in Koppel this morning. The victim’s identity has not been released, but officials have confirmed that the victim is that of an elderly male. The cause of the fire is unknown. Stay With Beaver County Radio News for more details. This breaking news report is being brought to you by…