Peloton plans to sell its deluxe stationary bike at Costco this holiday season as the struggling connected-exercise company seeks to broaden its customer base.

U.S. stocks closed lower as Wall Street counted down to its main event for the week, a speech by Federal Reserve Chair Jerome Powell coming up on Friday.

Peloton is recalling more than 2 million of its exercise bikes in the U.S. because the bike’s seat post assembly can break during use, posing fall and injury hazards.

Peloton’s uphill ride to get more sales just got rougher as more people return to gyms and other pre-pandemic exercise routines and embrace cheaper options.

It was the Peloton ride heard around the world.

Peloton says that the recall of its treadmills will shrink its revenue by $165 million in revenue in the current quarter.

Peloton is recalling about 125,000 of its treadmills, less than a month after denying they were dangerous and saying it would not pull them from the market, even though they were linked to the death of a child and injuries of 29 others.

Safety regulators are warning people with kids and pets to immediately stop using a treadmill made by Peloton after one child died and others were injured.

Peloton is sending a warning out to owners of its Tread+ treadmills, saying children should be kept away from the machines. It comes after a child died in an accident involving a Tread+. AdHe said Peloton is “aware of only a small handful of incidents involving the Tread+ where children have been hurt.”The exercise equipment company said in a statement it is shocked and saddened by the incident. In general, exercise equipment can be particularly dangerous for children. A 2014 U.S. National Institutes of Health study found that 25,000 kids under the age of 10 are injured by exercise equipment each year.

Asian stock markets rose Wednesday after President Donald Trump suggested he may veto a $900 billion economic aid package. (AP Photo/Lee Jin-man)Asian stock markets rose Wednesday after President Donald Trump suggested he may veto a $900 billion economic aid package. Overnight, Wall Street’s benchmark S&P 500 index lost 0.2% after Trump criticized the aid plan approved by Congress. The Shanghai Composite Index rose 0.8% to 3,382.08 and the Nikkei 225 in Tokyo added 0.1% to 26,470.94. Tech companies rose.

The company that runs New York Sports Club and Lucille Roberts gyms filed for bankruptcy protection with COVID-19, still prevalent in man parts of the U.S., gutting membership rolls at fitness companies nationwide. Gold’s Gym sought bankruptcy protection in May and 24 Hour Fitness Worldwide filed for bankruptcy in June. The company lost $136 million during the first quarter this year, only a fraction of which included state- and city-mandated shutdowns of retail shops, gyms, salons, restaurants and bars. Home fitness company Peloton reported a 172% surge in revenue during its most recent quarter and it doubled its subscribers. Bike shops in New York, as well as most outdoor fitness gear sellers, have been largely cleared out.

Peloton offering at-home workouts during coronavirus pandemicPublished: April 20, 2020, 10:10 amJulie Broughton caught up with a Peloton fitness instructor Cody Rigsby to talk about the importance of at-home workouts during the coronavirus pandemic.