84,000 Nissan cars recalled over Takata airbag issue

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why 84,000 Nissan cars have been recalled.

Transcript

00:00 I'm Conway Gittens reporting from the New York Stock Exchange.

00:02 Here's what we're watching on the street today.

00:04 Stocks are coming off a losing session on Wall Street with the Dow dropping over 300

00:08 points as interest rate fears dampen investor optimism.

00:12 Investors are reacting to weekly jobless claims.

00:14 219,000 Americans filed for unemployment benefits last week, above Wall Street estimates and

00:20 a slight rise from the previous week.

00:22 Meanwhile, investors are looking ahead to the PCE report on Friday, which is the Fed's

00:27 preferred gauge of inflation.

00:28 In other news, the National Highway Traffic Safety Administration has issued a recall

00:34 for nearly 84,000 Nissan vehicles.

00:38 Owners of a 2002 to 2006 Nissan Sentra, the 2002 to 2004 Nissan Pathfinder, and the 2002

00:46 to 2003 Infiniti QX4 should all stop driving them immediately, according to the agency.

00:53 The recall is over Takata airbags that were never fixed.

00:57 Takata is responsible for the largest ever safety recall in the auto industry, with more

01:02 than 100 million airbag inflators having to be fixed since 2014.

01:08 Over 30 deaths and more than 400 injuries worldwide have been linked to these faulty

01:12 airbags.

01:13 27 of those deaths occurred in the U.S., where 7 million Takata airbags have been recalled.

01:20 The NHTSA says, quote, "If you have one of these vehicles, do not drive it until the

01:26 repair is completed and the defective airbag is replaced."

01:30 It added that even minor crashes could result in the airbag deploying, which could lead

01:35 to life-altering injuries or death.

01:39 And that'll do it for your daily briefing from the New York Stock Exchange.

01:41 I'm Conway Gittens with the Street.

01:43 Thanks.

01:44 [BLANK_AUDIO]

Category

Transcript

Recommended