Stocks tumbled in the U.S. and Europe as investors grew increasingly concerned that the Federal Reserve and other central banks are willing to risk a recession to bring inflation under control. The S&P 500 fell 2.5% Thursday, erasing its gains from early in the week. The tech-heavy Nasdaq composite lost 3.2% and the Dow gave back 2.2%. A day earlier, the Fed said interest rates will need to go higher than previously expected in order to tame inflation. The yield on the two-year Treasury note, which tracks expectations for Fed moves, rose to 4.24% from 4.21% late Wednesday.
Amthor in Gretna announced Wednesday morning it will add a 33,000 square-foot building to expand its production capacity and create up to 100 new jobs.
The project includes $4 million in investment, with 60 of the new jobs to be added in the new facility and another 25-40 in Amthor’s current building.
Brian Amthor, executive vice president of Amthor International, said the expansion should be complete the fourth quarter of next year.
The company makes tank trucks.
This story will be updated.
