Stock market tanks...Oil prices drop... Some engine software on Airbus jets to be replaced.
NEW YORK (AP) — Stocks have plunged to their worst loss in eight months as technology companies continued to drop. The Dow Jones Industrial Average dropped 831 points or 3.1 percent today, to close at 25,598. The S&P 500 index sank 94 points, or 3.3 percent, to 2,785. The Nasdaq composite tumbled 316 points, or 4.1 percent, to 7,422. And the Russell 2000 shed 46 points, or 2.9 percent, to end the day at 1,575.
NEW YORK (AP) — Oil prices are down today. Benchmark U.S. crude oil fell 2.4 percent to $73.17 a barrel in New York. Meanwhile, Brent crude, the international standard, lost 2.2 percent to $83.09 a barrel in London. In other energy futures, wholesale gasoline shed 2.7 percent to $2.02 a gallon. Heating oil fell 1.2 percent to $2.39 a gallon and natural gas rose 0.6 percent to $3.28 per 1,000 cubic feet.
UNDATED (AP) — U.S. and European safety regulators are ordering that engine software be replaced on some Airbus passenger jets because of a problem that has caused pilots to abort several takeoffs in cold weather. The order covers 82 engines on planes registered in the United States. The engines were built by CFM International, a joint venture of General Electric, and France’s Safran, for Airbus jets.
NEW YORK (AP) — AT&T and WarnerMedia are joining the ever-expanding list of companies offering a streaming video service. They say the service due to launch in late 2019 will include films, TV shows, documentaries, animation and other offerings. No pricing was announced. It’s the second product AT&T has unveiled since its $81 billion acquisition in June of Time Warner, which it renamed WarnerMedia. More people are switching to streaming video from traditional cable bundles.
LAS VEGAS (AP) — Major League Baseball is insisting to casino executives that the league should get a cut from wagers placed on the sport following the repeal of a federal ban on sports betting. An MLB executive speaking today at the casino industry’s top trade show in Las Vegas also held that sports books should be required to buy data used to set odds directly from the league. Casinos have strongly opposed direct payments to leagues for betting.