Ticker: EPA orders Norfolk Southern to continue cleanup in East Palestine, Ohio

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The U.S. Environmental Protection Agency this week ordered Norfolk Southern to continue cleaning up creeks in East Palestine, Ohio, where there are still visible effects of the February derailment of a train carrying hazardous materials.

EPA Administrator Michael Regan visited East Palestine earlier this week, and the agency said 98% of the excavation of the derailment site has been completed.

EPA says as of this month, there has been an estimated 148,662 tons of solid waste and 34.3 million gallons of wastewater hauled out and shipped. Solid waste is being incinerated or placed in specially-designed landfills designed to minimize the chance of releasing hazardous waste into the environment.

Now, EPA says it is ordering “a similarly comprehensive investigation of oil-contaminated sediments in the creeks.”

Norfolk Southern said the order “formalizes the continuation of work that has been ongoing since the derailment,” and that the company “remains cooperative.”

Wall Street’s worst week in a month closes out with more losses

Wall Street closed out its worst week in a month with more losses.

The S&P 500 fell 1.3% Friday. The Dow lost 286 points, and the Nasdaq composite dropped 1.5%. The stock market has been under pressure from the bond market, where the yield on the 10-year Treasury briefly touched 5% Thursday evening for the first time since 2007.

High yields make borrowing more expensive for everyone, and they slow the economy while dragging on investment prices. The 10-year yield eased Friday, but only after hanging near 4.99% in the morning. Crude oil prices fluctuated, and gold’s price rose.

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