TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why 84,000 Nissan cars have been recalled.
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00:00 I'm Conway Gittens reporting from the New York Stock Exchange.
00:02 Here's what we're watching on the street today.
00:04 Stocks are coming off a losing session on Wall Street with the Dow dropping over 300
00:08 points as interest rate fears dampen investor optimism.
00:12 Investors are reacting to weekly jobless claims.
00:14 219,000 Americans filed for unemployment benefits last week, above Wall Street estimates and
00:20 a slight rise from the previous week.
00:22 Meanwhile, investors are looking ahead to the PCE report on Friday, which is the Fed's
00:27 preferred gauge of inflation.
00:28 In other news, the National Highway Traffic Safety Administration has issued a recall
00:34 for nearly 84,000 Nissan vehicles.
00:38 Owners of a 2002 to 2006 Nissan Sentra, the 2002 to 2004 Nissan Pathfinder, and the 2002
00:46 to 2003 Infiniti QX4 should all stop driving them immediately, according to the agency.
00:53 The recall is over Takata airbags that were never fixed.
00:57 Takata is responsible for the largest ever safety recall in the auto industry, with more
01:02 than 100 million airbag inflators having to be fixed since 2014.
01:08 Over 30 deaths and more than 400 injuries worldwide have been linked to these faulty
01:12 airbags.
01:13 27 of those deaths occurred in the U.S., where 7 million Takata airbags have been recalled.
01:20 The NHTSA says, quote, "If you have one of these vehicles, do not drive it until the
01:26 repair is completed and the defective airbag is replaced."
01:30 It added that even minor crashes could result in the airbag deploying, which could lead
01:35 to life-altering injuries or death.
01:39 And that'll do it for your daily briefing from the New York Stock Exchange.
01:41 I'm Conway Gittens with the Street.
01:43 Thanks.
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