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Another drop for stocks has Wall Street on track to close out its first losing week in the last six NEW YORK -- Another drop for stocks on Friday has Wall Street on track to close out its first losing week in the last six. The S &P 500 was 0.4% lower in afternoon trading, pulling back further from last week when it reached its highest level in more than a year. The Dow Jones Industrial Average was down 135 points, or 0.4%, at 33,812, as of 1:56 p.m. Eastern time, while the Nasdaq composite was 0.5% lower. Overseas markets also fell, while crude oil prices sank on worries that a global economy under threat of a recession will burn less fuel. Europe’s economy appears to be weaker than expected, according to a preliminary report measuring manufacturing and services Business es. That’s adding to this week’s hesitance in market s, caused by a crank higher in interest rates by central banks around the world as they try to get high i NFL ation under control. High rates drive down i NFL a...

Elon Musk sold another $3.58 billion worth of Tesla stock this week, but it wasn’t clear where the proceeds were being spent DETROIT -- Elon Musk sold another $3.58 billion worth of Tesla stock this week, but it wasn't clear where the proceeds were being spent. The Tesla CEO, and new owner of Twitter, sold the shares from Monday through Wednesday, according to a filing posted Wednesday night by the U.S. Securities and Exchange Commission. Musk has sold nearly $23 billion worth of Tesla stock since April, with much of the money likely going to help fund his $44 billion acquisition of Twitter. The sale comes as shares of the electric vehicle and solar panel maker have collapsed, losing over half their value since Musk first disclosed in April that he was buying up Twitter stock . The falling shares have bumped Musk from his status as the world's wealthiest person, with his net worth falling to $174 billion, according to Forbes. He was passed last week by French fashion and co...