Stocks suffer losses...Oil prices down, so are gasoline prices... Mortgage rates drop

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Associated Press

Posted on September 19, 2013 at 3:00 PM

Updated Thursday, Sep 19 at 3:00 PM

NEW YORK (AP) — Stocks are mostly down today. The Dow Jones industrial average dropped 40 points to close at 15,636 and the S&P 500 index fell three points to 1,722. The Dow and S&P 500 closed at record highs yesterday after the Federal Reserve said it would continue its bond-buying stimulus program. The Nasdaq composite did manage to gain six points today.

NEW YORK (AP) — The price of oil is down today as excitement fades over the Federal Reserve's decision to keep its monetary stimulus in place. Benchmark crude for October delivery dropped $1.68, or 1.6 percent, to close at $106.39 a barrel in New York. Most drivers are seeing lower prices at the gas pump. The average for a gallon of regular dropped below $3.50 for the first time since July 9. It's $3.49 a gallon.

UNDATED (AP) — Freddie Mac says average rates on fixed mortgages declined this week amid signs the economic recovery is slowing. The mortgage buyer says the average rate on the 30-year loan fell to 4.50 percent from 4.57 percent last week. The average on the 15-year fixed mortgage dipped to 3.54 percent from 3.59 percent last week.

WASHINGTON (AP) — The International Monetary Fund chief says she sees subdued global growth ahead even with signs of recovery in major economies such as the U.S. and Europe. Christine Lagarde says advanced economies are in a better place than they were six months ago but developing countries that helped keep the global economy afloat during the economic crisis are now slowing down.

CHICAGO (AP) — A judge in Chicago has released Kevin Trudeau from jail after the infomercial pitchman spent the night behind bars for violating court orders to pay a more than $37 million fine. The Chicago Sun-Times reports the judge warned Trudeau he's on a "tight leash" and could be jailed again next week. Trudeau insists he's penniless and can't pay the fine that stems from allegedly false claims made in his weight-loss book.

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