The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
A Belgian F-16 fighter jet crashed on a road in western France and one of its pilots is hanging from a high-voltage electricity line after his parachute got caught.Aerospace & Defenseread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
A key worry for some is whether libra competes with sovereign currencies like the dollar.Technologyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Energy stocks were the biggest decliners throughout much of a second day of selling on Wall Street on Monday, with the sector heading for its worst two-day performance in 2½ years.
Over the two-day stock market sell-off, the sector dropped 8.3 percent. That is its worst two-day performance since Aug. 24, 2015, when energy stocks dropped 8.5 percent.
Crude oil prices also fell as investors dumped risk assets, with international benchmark and U.S. West Texas Intermediate crude both losing about $2 a barrel, or roughly 3 percent, since the end of Thursday's session.
Chesapeake Energy was the biggest loser of the day, dropping 7.2 percent. It is down more than 20 percent over the last week since announcing it would lay off about 13 percent of its workforce.
Hess trailed just behind Chesapeake, dropping nearly 7 percent on the day, after reporting a bigger-than-expected quarterly loss. The company's guidance on 2018 production was about 9 percent below the Street's expectations, according to Capital One Securities.
"Want to get more positive on HES given world-class Guyana asset ..., but can't point to much that warrants upgrade from Underweight," Capital One analyst Phillips Johnston said in a research note on Monday.
The earnings report from Hess continued a string of weak earnings from U.S.-headquartered oil and gas companies.
Exxon, which on Friday badly missed expectations for profits due in part to weakness in its U.S. exploration and production segment, was the third-biggest laggard. Integrated oil peer Chevron also disappointed on earnings on Friday.
Shares of both companies were down more than 10 percent over the last two sessions.
"Earnings were significantly weaker than expected," said Rob Thummel, portfolio manager at Tortoise Capital Advisors, referring to Exxon and Chevron. "That's what's really driven the S&P energy stocks off more significantly."
Shares of energy stocks have lagged the rebound in crude oil futures since June. During that period, oil prices have risen nearly 50 percent, while the S&P energy sector has run up almost 9 percent.
While Thummel believes that's an opportunity, he says it's been disappointing for investors already exposed to energy stocks.
"I think it's just a clear indicator that people don't believe the oil price," said Thummel. "They think it's too high. They think it's coming down."
Oil prices have come under pressure from a rising U.S. dollar as the correlation between the greenback and crude futures reasserts itself. There are also fresh signs that U.S. output is offsetting OPEC's deal to limit production, with American supplies topping 10 million barrels a day in November for the first time since 1970.