The death toll in the U.S. meningitis outbreak rises and McDonald's and GE are among the losers in a market sell-off. Here's the Friday Bloomberg After The Bell Report from the New York Stock Exchange.
American Stock Exchange
2408.53 down 25.72
3005.62 down 67.25
Standard and Poors 500
1433.19 down 24.15
Stocks took a dive 25 years after the “Black Monday” crash, sending benchmark indexes toward their biggest declines since June. General Electric fell the most in almost a year after cutting its target for 2012 sales. The company is grappling with tougher markets for products like jet engines and health care imaging equipment.
McDonald's also giving investors indigestion after sales slowed and profits fell. The Securities and Exchange Commission, which launched a review of Facebook's IPO, has not found any evidence that the company withheld material information from investors, according to sources.
Meantime, the death toll in the U.S. meningitis outbreak is rising. The Centers For Disease Control says 21 people in the U.S. have now died from the meningitis outbreak linked to tainted steroid injections for back pain.
News Corp's Roger Ailes signed a four-year contract extension to stay on as chairman and CEO of Fox News and chairman of Fox television stations.