The University of Southern California has canceled its main stage graduation ceremony under new safety measures being taken as the campus is roiled by protests stemming from the Israel-Hamas war. The university announced the move Thursday, the day after more than 90 protesters were arrested on campus. The ceremony was scheduled for May 10. The university says it will still host dozens of commencement events, including all the traditional individual school commencement ceremonies where students cross a stage and receive their diplomas. The university already canceled a planned commencement speech by the school’s pro-Palestinian valedictorian, citing safety concerns. Read moreUSC won't hold main commencement ceremony amid Gaza war protests on campus

Stocks closed lower on worries about a potentially toxic cocktail for financial markets, one where inflation remains stubbornly high but the economy’s growth flags. A sharp drop for Meta Platforms, one of Wall Street’s most influential stocks, also dragged the market lower. The S&P 500 fell 0.5% Thursday after paring an earlier drop of 1.6%. The Dow Jones Industrial Average lost 1%, and the Nasdaq composite gave back 0.6%. Treasury yields climbed after the government reported that inflation remained hotter than forecast during the first three months of the year. The economy's growth also slowed more than expected. Read moreStock market today: Wall Street falls on double dose of disappointing economic data, as Meta sinks