Page 8A
BUSINESS
East Oregonian
Saturday, October 27, 2018
Stocks slump again; S&P 500, Dow back into red for this year
By ALEX VEIGA
AP Business Writer
Stocks are back in
the red for the year after
another wave of selling hit
Wall Street on Friday.
The latest plunge came
at the end of an unusu-
ally turbulent week of trad-
ing that had one huge gain
sandwiched between mas-
sive losses.
A three-week slide has
left the benchmark S&P
500 index on track for its
worst month since Febru-
ary 2009, right before the
stock market hit bottom fol-
lowing the 2008 financial
crisis.
Longtime market favor-
ites like Amazon led the
way lower after report-
ing weak results. Technol-
ogy and consumer-focused
companies accounted for
much of the sell-off.
Media and communi-
cations stocks, banks and
health care companies also
took heavy losses. Bond
prices rose, sending yields
lower, as investors sought
out less risky assets.
The Dow Jones Indus-
trial Average fell nearly 300
points and the S&P 500, a
benchmark for many index
funds, is now down 9.3 per-
cent from its September
peak. That’s just shy of what
Wall Street calls a “correc-
tion,” or a drop of 10 per-
cent or more from a peak.
The last S&P 500 correc-
tion happened in February.
The stock market has
whipsawed this week, with
the Dow slumping 500
points over the first two
days of the week, plunging
608 on Wednesday, soar-
ing 401 points Thursday,
and then plunging again on
Friday. The ups and downs
came during the busiest
week for third-quarter com-
pany earnings.
“We’re going through
this transition where, earlier
in the year, the corporate
earnings results were just
GM proposes nationwide zero-
emissions vehicle sales mandate
DETROIT (AP) — General Motors says
it will ask the federal government for one
national gas mileage standard, including a
requirement that a percentage of auto com-
panies’ sales be zero-emissions vehicles.
Mark Reuss, GM’s executive vice presi-
dent of product development, said the com-
pany will propose that a certain percentage
of nationwide sales be made up of vehicles
that run on electricity or hydrogen fuel cells.
“A national zero emissions program will
drive the scale and infrastructure invest-
ments needed to allow the U.S. to lead the
way to a zero emissions future,” Reuss said.
GM, the nation’s largest automaker,
spelled out the request Friday in written
comments on a Trump administration pro-
posal to roll back Obama-era fuel economy
and emissions standards, freezing them at
2020 levels instead of gradually making
them tougher.
California Gov. Jerry Brown, whose state
was one of many opponents to the mileage
rollbacks filing objections to the Trump
plan, stood in front of Interstate 5 in Sac-
ramento on Friday to urge the cause of
cleaner cars and condemn the administra-
tion’s proposal.
“Foolishly, it mandates gas guzzlers
instead of clean and zero-emission vehi-
cles,” Brown told reporters as trucks and
passenger traffic roared past. “Wrong way
to go, Donald. Get with it. Bad.”
Under a regulation finalized by the Envi-
ronmental Protection Agency at the end of
the Obama administration, the fleet of new
automobiles would have to get 36 miles per
gallon by 2025, 10 miles per gallon higher
than the current requirement.
But the Trump administration’s pre-
ferred plan is to freeze the standards start-
ing in 2021. Administration officials say
waiving the tougher fuel efficiency require-
ments would make vehicles more afford-
able, which would get safer cars into con-
sumer hands more quickly.
AP Photo/Richard Drew
Trader Jonathan Mueller works in his booth on the
floor of the New York Stock Exchange on Friday.
a blowout and now they’re
more mixed,” said David
Lefkowitz, senior equity
strategist Americas at UBS
Experienced robotic surgeon
joins Good Shepherd
East Oregonian
A new surgeon has joined the Good
Shepherd Health Care System team.
Andrew John Haputa, M.D., is a general
and robotic surgeon with 18 years of experi-
ence. He is a Fellow of
the American College
of Surgeons, according
to a news release from
GSHCS, and received
his medical degree
from the University of
North Carolina School
of Medicine in Chapel
Hill, North Carolina,
Haputa
before training in the
University of Wash-
ington General Surgery Residency Pro-
gram. He is a past president of the Associa-
tion of Native American Physicians.
Haputa has been performing 100 surger-
ies on the robotic da Vinci surgical system
annually. The news release states that ben-
efits of using the da Vinci system over tra-
Global Wealth Manage-
ment. “That’s causing some
of this volatility.”
The S&P 500 index slid
46.88 points, or 1.7 percent,
to 2,658.69.
The
Dow
dropped
296.24 points, or 1.2 per-
cent, to 24,688.31. The
average was briefly down
539 points.
The tech-heavy Nas-
daq composite lost 151.12
points, or 2.1 percent, to
7,167.21. The Russell 2000
index of smaller-com-
pany stocks gave up 16.58
points, or 1.1 percent, to
1,483.82. The S&P 500 and
Dow are now down for the
year again.
ditional surgical methods includes “greater
surgical precision, increased range of
motion, improved dexterity, enhanced visu-
alization, and improved access to the sur-
gical site. Benefits experienced by patients
may include a shorter hospital stay, less
pain, less risk of infection, less blood loss,
fewer transfusions, less scarring, faster
recovery and a quicker return to normal
daily activities.”
Good Shepherd CEO Dennis Burke said
in a statement that the hospital was excited
to have Haputa on board.
“Being the first medical center in the
two-state region that we serve to have a
da Vinci robotic system has truly been an
accomplishment,” he said. “Dr. Haputa
adds to our fine list of surgeons practicing
and putting the da Vinci to good use.”
Haupta said in a statement that he is
looking forward to bringing his experience
to Good Shepherd. He said his approach to
patient care centers on kindness and respect.
“I make it a point to stick with my
patients and will follow up with them as
much as necessary to help address their
questions and ease any concerns they may
have prior to and post surgery,” he said.
Wildhorse starts renovation projects at Mission Market and golf course
East Oregonian
As a part of an overall
expansion of the Wildhorse
Resort and Casino enter-
prise, the organization will
start construction on ren-
ovation projects at its golf
course and Mission Market.
Located at the intersec-
tion of Mission Highway
and South Market Road on
the Umatilla Indian Reser-
vation, Mission Market will
get a gas station on the west
side of its property.
According to a press
release, construction will
start this week and is
expected to be completed in
mid-January.
Wildhorse will also start
work on upgrading its golf
course’s clubhouse and pro
shop this week.
The grill will be closed
during construction, but a
temporary pro shop will
be housed in trailers on the
golf course parking lot. The
course itself will operate as
usual.
The renovated clubhouse
and pro shop is targeted to
open in May.
These renovations come
amid significant expansion
for the resort and casino,
which is set to include a
new hotel tower, a bowl-
ing alley, and an expanded
movie theater.
The Confederated Tribes
of the Umatilla Indian Res-
ervation
also
recently
made an offer to purchase
the Hamley’s complex in
Pendleton.
Guardian Care Center’s
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