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Brent Crude Markets

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NEW YORK (AP) — Stocks are slumping on Wall Street Friday, and the S&P 500 is on track for its first losing week in four, as more steam comes out of banks and other stocks that soared earlier this year with expectations for the economy and inflation.

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A slide in banks and industrial companies nudged stocks on Wall Street to modest losses Wednesday after an early gain faded in the last half-hour of trading. Stocks championed by hordes of online retail investors, the “meme” stocks as they have become known, were volatile once again.

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FRANKFURT, Germany (AP) — The OPEC oil cartel and allied producing countries plan to restore 2.1 million barrels per day of crude production, balancing fears that COVID-19 outbreaks in some countries will sap demand against surging energy needs in recovering economies.

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