Closing Bell: LIVE MARKETS BLOG

 | Jul 11, 2018 | 4:10 PM EDT
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Closing Bell

The three major U.S. indices all traded lower Wednesday as markets reacted negatively to a new round of $200 billion in tariffs on Chinese imports. 

The Dow Jones Industrial Average fell 0.88%, or 219 points to 24,700, while the Nasdaq dropped 0.55%, or 43 points to 7,717, and the S&P 500 declined 0.71%, or 20 points to 2,774. 


Lack of American Presence Is Hurting Fox's World Cup Ratings

Viewership for the 2018 World Cup on Fox (FOXA) is down about a third from its 2014 broadcast, according to the Wall Street Journal, no doubt partially thanks to the lack of a U.S. presence at the global soccer tournament. 

The U.S. failed to qualify for the tournament, which is watched by over a billion people worldwide every four years, for the first time since 1986. 

Fox is spending $900 million on rights to broadcast soccer matches through the 2026 World Cup, which will be hosted by Canada, Mexico and the United States. 


It's Gonna Cost You to Complain if the FCC Gets Its Way

To combat the deluge of traffic on its online comment system the chairman of the Federal Communications Commission is proposing that the only complaints the government agency should review be accompanied by a $255 fee. 

Last week, Ajit Pai sent a letter to two senators detailing a proposal to "rebuild and re-engineer" the agency's electric comment system, according to the Wall Street Journal. 

"It is troubling that some bad actors submitted comments using false names," Mr. Pai said in the letter. "Indeed, like you, comments were submitted in my name and my wife's name that reflect viewpoints we do not hold."

The two senators reportedly have differing views of what should be done to combat bad actors, but both agreed that the comment system is broken. 


American Airlines Is the Latest Company to Ditch Plastic Straws

American Airlines (AAL) is joining Starbucks (SBUX) and other high profile companies in dropping plastic straws amid concerns about the product's effect on the environment. 

The airline will instead rely on a straw-and-wood stir stick and bamboo straw while also transitioning to "all eco-friendly flatware" in its lounges. 

American says that the change will eliminate more than 71,000 pounds of plastic waste a year. 

"We're cognizant of our impact on the environment and we remain committed to doing our part to sustain the planet for future generations of travelers," American Airlines vice president of flight services Jill Surdek said, according to the Hill. 


Premarket

U.S. futures are falling across the board premarket Wednesday as markets digest yet another round of tariffs aimed at China as the trade war between the U.S. and the Far East heats up.

The U.S. added $200 billion more dollars in duties to Chinese imports, a move that is expected to result in retaliation from the country. 

Dow futures were down 0.88%, indicating an open 220 points lower, while S&P futures fell 0.72%, indicating an open 20 points lower, and Nasdaq futures fell 0.85%, indicating an open 62 points lower than Tuesday's close. 

World markets were also suffering due to the White House announcement, with the Shanghai Composite dropping 1.76%, the Hang Seng falling 1.32% and the Nikkei declining 1.19%. 

In Europe, the FTSE 100 dropped 1.16%, the DAX declined 1.35% and the CAC 40 fell 1.24% with about four hours left in trading. 

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