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Stocks slump again on Wall Street extending weekly losses

first_imgTechnology and financial companies helped pull U.S. stocks broadly lower Thursday, marking the fourth straight loss for the S&P 500. The benchmark index is now on track for its first weekly drop since January.Losses in health care stocks and big retailers also weighed on the market. Utilities eked out a gain as investors sought out safer holdings.With fourth-quarter earnings having wound down and lingering uncertainty over trade talks between the U.S. and China, traders have had little reason to extend the gains the market has made since early this year.The wave of selling on Wall Street followed a sell-off in European indexes after the European Central Bank delayed its next interest rate hike and announced a new round of cheap loans for banks. Traders saw the move as an acknowledgement of weaker economic growth by the central bank, stoking investors’ worries that the global economy is slowing.“The tone for the day was pretty much set by the ECB,” said Erik Davidson, chief investment officer at Wells Fargo Private Bank. “Normally the market would respond well to this very accommodative monetary policy, but the comments around it and concerns for the eurozone economy are probably what’s put the market back on its heels.”last_img read more

Fairbanks Robotics Team Heads to World Championship

first_imgA Fairbanks high school team took the top honor at the recently competed First Tech Challenge World Robotics Championships in St. Louis, Missouri. The kids, who have been competing together for the last four years, demonstrated the best mix of technical engineering, performance and sportsmanship.Schrodinger’s Hat team members and their robot.Credit: Dan Bross / KUACThe Fairbanks robotics team advanced through local, state and regional competitions to earn a spot at last month’s World Championship, where they bested 127 other qualifiers for the top honor: The Inspire Award.Colleen Johnson is one of six kids on the Fairbanks team that goes by the name:“Shrodinger’s Hat,” a play on the famous physics experiment “Shrodinger’s Cat.” Members wear big black top hats during competitions that involves running a milk crate sized robot they build and program for a customized challenge.Justin Hannah drives the battery powered wheeled robot during competitions that consist of numerous two-minute matches.Beyond the game field, teams also must track the engineering that goes into their robot and are further judged on how they work with other teams, according to Colleen Johnson’s sister and teammate Katie.The team has already mentored others in Alaska, the Lower 48 and in places as far away as Saudi Arabia, South Korea and Australia. Australian is the location of a competition the team has been invited to in July. They’re currently raising money for the trip.last_img read more