L.L. Bean raises age to purchase guns

The markets traded lower during the midday with the Dow plunging 181 points to 24,427. Nasdaq gained 26 points to 7206.


A fourth major retailer has joined a growing list of companies that have changed their firearm sales policies in the wake of the shooting at Marjory Stonemason Douglas High School in Parkland, Florida that left 17 students and staff dead. L.L. Bean will no longer sell guns or ammunition to customers who are under the age of 21. Dick's Sporting Goods was the first retailer to change its policy on Wednesday, February 28.


REI has temporarily halted all orders from Vista Outdoor until the supplier issues a public statement about the Florida shooting and about its policies moving forward. The outdoor gear retailer sells Vista Outdoor brands Bell, Camelback, Camp Chef and Giro but it does not sell any weapons. Vista's Savage Arms brand makes a series of semiautomatic weapons.


BlackRock has asked gun manufacturers and retailers how the companies monitor the sale and use of firearms. The world's largest asset manager holds major stakes in American Outdoor Brands and Sturm Ruger & Co. BlackRock said that the questions were to ensure that weapons makers and retailers sufficiently manage the financial, reputational and litigation risks of their businesses.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 eased a point to 2,676. Bitcoin fell $96 to $10,876.


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