Tuesday's Bloomberg Market Report

By: Deborah Kostroun Email
By: Deborah Kostroun Email
  • Dow Jones Industrial: Down 243.36
  • S&P 500: Down 20.70 to 1,413.11
  • NASDAQ: Down 26.50 to 2,990.46

Here are the headlines from Tuesday's Bloomberg Market Report.

The Dow Jones Industrial took its biggest fall since June after big name companies, including DuPont and 3M announced business is slowing down around the world.

Shares of Apple also fell as the company unveiled a smaller, cheaper version of the iPad. The mini will have a 7.9 inch screen, diagonally, compared with the current 9.7 inch screen. The mini will cost between $329 and $659. Investors are worried that the lowest price won't be enough to draw users away from Amazon's Kindle and Barnes and Noble's Nook.

Facebook's earnings beat Wall Street estimates by a penny. CEO Mark Zuckerberg says he's "really happy" that over 600 million people connect on Facebook using mobile devices. Netflix on the other hand did not connect with investors; its shares tanked after cuttings its growth outlook.

Sirius XM radio CEO Mel Karmazin will step down on February 1, 2013. He also plans to leave the Board of the Satellite Radio Broadcaster.


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