MEXICO CITY — Former Hurricane Fabio weakened into a tropical storm Thursday, and forecasters say it should slow to a remnant low as it heads deeper into the Pacific away from Mexico.

The U.S. National Hurricane Center said the storm's sustained winds had fallen to 70 mph (113 kph) with higher gusts. It was centered about 935 miles (1,505 kilometers) west-southwest of the southern tip of the Baja California Peninsula and was moving west-northwest at 16 mph (26 kph).

The center said Fabio would rapidly weaken and was likely to degenerate into a remnant low-pressure system Friday. At one point, forecasters had thought Fabio might become a major hurricane.