Stocks veer lower, Echo, Ring devices might share bandwidth

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NEW YORK (AP) — Stocks gave up an early gain and turned lower in the last half-hour of trading Wednesday, leaving major indexes with modest losses. Several stocks championed by hordes of online investors made more erratic moves, and several of them including Clover Health ended with sharp losses. Bond prices rose. The S&P fell 0.2%, to 4,219.55. The Dow fell 0.4%, to 34,447.14. The Nasdaq fell 0.1%, to 13,911.75. The Russell 2000 index of smaller companies fell 0.7%, to 2,327.13.

NEW YORK (AP) — Amazon wants you to share your internet connection. The company launched a program this week that forces users of certain Echo smart speakers and Ring devices to automatically share a small portion of their wireless bandwidth with neighbors. The only way to stop it is to turn it off yourself. Amazon says the program, called Amazon Sidewalk, is a way to make sure lights, smart locks and other gadgets outside the home and out of reach of a Wi-Fi connection stay working. Some privacy experts warn that the technology is so new that not enough is known about the privacy and security risks. They say that Amazon forced consumers into Amazon Sidewalk and that many people may not know they have the option to opt-out of it.

DETROIT (AP) — The nation’s largest automaker says it can support greenhouse gas emissions limits that other car manufacturers negotiated with California — if they are achieved mostly by promoting sales of fully electric vehicles. The shift brings GM closer to the 2019 California deal signed onto by five other automakers, offering hope for a breakthrough on an industrywide deal. But GM’s proposal of an accelerated transition to electric vehicles falls short of more strict emissions reductions for gas-powered vehicles being urged by a top Senate Democrat.

DENVER (AP) — The second-largest producer of beef, pork and chicken in the U.S. will pay up to $5.5 million to settle a lawsuit that claimed the company discriminated against Muslim employees at a processing plant in northern Colorado. The U.S. Equal Employment Opportunity Commission filed the lawsuit in 2010. It claimed Muslim employees at JBS Swift & Company’s beef processing plant in Greeley were disciplined more harshly than other workers, were harassed when they tried to pray during their breaks and were called offensive names. JBS says it doesn’t admit liability in the settlement and “is committed to diversity and inclusion in the workplace.”

NEW YORK (AP) — GameStop says it’s brought on a pair of Amazon veterans as its new chief executive and chief financial officer to aid in its much anticipated digital turnaround. Matt Furlong, who most recently oversaw Amazon’s Australia business and spent nine years with the company, will start as CEO on June 21. GameStop’s stock has been on a wild rocket ride, soaring more than 1,500% this year as waves of smaller-pocketed investors piled in on hopes that it can transform itself into an e-commerce powerhouse after seeing sales of video games at its brick-and-mortar stores falter.

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