U.S. stocks slid today ending lower as global growth weighs, also drawn down by the health-care sector, as politicians stepped up scrutiny of drug pricing. U.S. Markets ended lower with the Dow finishing down 313 points, or 1.9% and the S&P 500 sinks 50 points, or 2.6%. Oil prices end lower, almost 3%, on weak demand outlook, but WTI remains above $43 closing at $44.48.
HAVANA (Reuters) - JetBlue will add a second charter flight from New York's John F. Kennedy airport to Havana, expanding charter service ahead of an expected opening of commercial air travel between the two countries, the company said on Monday.
DETROIT (Reuters) - United Auto Workers union members at Fiat Chrysler Automobiles NV's U.S. factories are increasingly rejecting a proposed national labor agreement recommended by union leaders, expressing discontent with a compromise that sacrificed larger wage hikes for future investment in U.S. operations.
NEW YORK (Reuters) - A U.S. appeals court on Monday weighed whether to uphold the approval of an estimated $5.7 billion antitrust settlement by MasterCard Inc and Visa Inc with merchants over credit card fees despite the objection of several major retailers.
BERLIN (Reuters) - German prosecutors launched an investigation on Monday into fraud allegations against former Volkswagen boss Martin Winterkorn, showing their determination to get quickly to the bottom of a scandal over rigged emissions tests that has rocked the global car industry.
NEW YORK (Reuters) - Oil prices fell nearly 3 percent on Monday, pressured by tumbling equities on Wall Street and weak Chinese economic data, although an estimated drawdown in crude stocks at the key U.S. storage hub appeared to limit losses, traders said.
(Reuters) - U.S. stocks fell sharply in afternoon trading on Monday and were set for their worst third-quarter performance in four years as investors worried about the health of China's economy and its potential impact on the timing of a U.S. interest rate increase.
CHICAGO (Reuters) - Alcoa Inc said Monday it will break itself in two, separating a faster growing plane and car parts business from traditional aluminum smelting operations as shareholders seek higher returns amid a commodity slump.
LONDON (Reuters) - Shares in mining and trading company Glencore fell almost 30 percent and closed at a record low on Monday over concerns it is not doing enough to cut its debt to withstand a prolonged fall in global metals prices.
As a child I was fascinated by the concept of a neutron star. A neutron star is the tiny but immensely dense thing that's left after a massive star explodes. Imagine something eight times as massive as our sun packed into a 12 mile diameter sphere. Gravity compresses the surviving material so profoundly that its protons and electrons are squashed into neutrons. Just how dense ? A single teaspoon's worth of a neutron star would weigh a billion tons. That presupposes you could actually get close enough to extract a teaspoon's worth. In reality, the gravitational pressure would reduce your body to a very thin smear on the surface of the star. Very little escapes the gravitational force of a neutron star.
I never expected to encounter a neutron star but Messrs Bernanke and Yellen at the US Federal Reserve have been kind enough to engineer one for us. Like CERN it's been something of an international collaboration - Messrs Carney and Draghi have also pitched in to do their bit. The hybrid of Quantative Easing (QE) and Zero Interest Rate Policy (ZIRP), our current monetary neutron star has succeeded in collapsing the yields of just about every financial asset. The tractor beam of ZIRP in particular is difficult to evade. Just ask Janet Yellen. After one of the most widely anticipated FOMC meetings in history, she has boldly decided to do precisely nothing.
Today's investors are not exactly a lucky generation. Assuming they've survived two precipitous declines in stock markets in the course of a decade, they're now faced with overpriced stocks, overpriced bonds, overpriced everything. ...
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