Tuesday's Bloomberg Market Report

By: Deborah Kostroun Email
By: Deborah Kostroun Email
  • Dow Jones Industrial: Down 110.12 to 13,473.53
  • S&P 500: Down 14.40 to 1,441.48
  • NASDAQ: Down 47.33 to 3,065.02

Here are the headlines in Tuesday's Bloomberg Market report.

Companies are cutting back on business travel thanks to economic and political uncertainty, combined with turmoil in Europe and sower economic growth in China. In Tuesday's edition of the USA Today, The Global Business Travel Association reported that travel may pick up again once the presidential election is over.

Southwest has announced discounts of up to 40 percent on some fares through mid-February. The idea is to attract travelers during non-holiday periods.

Stocks did not fly high Tuesday after the International Monetary Fund cut estimates for global growth. Alcoa, though, reported better than expected third quarter earnings and sales, kicking off the third quarter earnings season.

The US government is suing Wells Fargo for fraud. The government said the bank made reckless mortgage loans in connection with Wells Fargo's decade-long participation in a federal housing administration program. The bank denies the allegations and said it complied with all rules.

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