The Dow is set for a triple-digit drop amid rising global tensions

BY THE NUMBERS

Futures were sharply lower this morning, likely extending losses that have seen the S&P 500 fall for four days in a row. Correction territory isn't looming just yet – both the Dow and S&P 500 are still about six percent below their most recent all-time highs. (CNBC)

* Asian stocks fall amid rising global tensions (CNBC)

A heavy morning of earnings features five Dow components: 3M (MMM), Caterpillar (CAT), McDonald's (MCD), United Technologies (UTX), and Verizon. Earnings out after today's closing bell include Ameriprise Financial (AMP), Capital One (COF) and Chubb (CB). (CNBC)

No less than five Fed officials are set to speak: Minneapolis Fed President Neel Kashkari, Atlanta Fed President Raphael Bostic, Dallas Fed President Rob Kaplan, Chicago Fed President Charles Evans, and Kansas City Fed President Esther George. Bostic is a voting member of the FOMC for 2018. (CNBC)

* Cramer: Fed Chair Powell is 'like a racehorse with blinkers on' when it comes to the market (CNBC)

IN THE NEWS TODAY

Turkish President Recep Tayyip Erdogan said evidence shows that Saudi journalist Jamal Khashoggi was the victim of a "vicious, violent murder." He also said there were "strong signs" it was the result of a planned operation. (CNBC)

* Saudi economic forum opens but many absent over Khashoggi (AP)

China said today it has expressed deep concern to the U.S. after Washington sent two warships through the Taiwan Strait in the second such operation this year. China claims democratic and self-ruled Taiwan as its own. (Reuters)

* Chinese official tells American investors: We don't fear a trade war with the US (CNBC)

President Donald Trump repeated his unsubstantiated claim that GOP plan to unveil a tax cut before the midterm elections. Congress is in recess until after the election, but Trump dismissed the idea that he would try to use an executive order. (CNBC)

* 5 midterm races (two weeks from today) that could help decide House control (USA Today)

The Supreme Court halted a ruling requiring Commerce Secretary Wilbur Ross to testify in suits challenging his decision to add a question on citizenship to the 2020 Census. They said it represented an unwarranted intrusion. (Politico)

Hurricane Willa is forecast to be a major storm at landfall in Mexico later today. Willa, currently a Category 4, has prompted storm warnings in effect from San Blas to Mazatlán, including Las Islas Marias. (The Weather Channel)

An explosive device was found yesterday in a mailbox at the home of billionaire philanthropist George Soros, authorities said. It did not explode on its own, and bomb squad technicians "proactively detonated" it. Soros was not home. (NY Times)

Philip Morris (PM) released less expensive versions of its IQOS "heat but not burn" products in Japan, in an effort to boost sales in that country. The alternative cigarettes release less smoke and odor than regular cigarettes. (CNBC)

A California judge reduced by more than $200 million a jury verdict linking Bayer's (BAYRY) Roundup weedkiller to cancer. The San Francisco judge however upheld the jury's findings that the company acted with malice. (WSJ)

Big box retailer Walmart (WMT) announced today it's expanding two-day shipping and in-store returns to many items sold by third parties on its website next month, just ahead of the busy holiday shopping season. (CNBC)

Taiwanese phone maker HTC unveiled its flagship blockchain-focused smartphone today, the Exodus 1, as the struggling manufacturer looks to shift its strategy to focus on new technology. You can only buy it with cryptocurrency. (CNBC)

Tesla (TSLA) CEO Elon Musk said Twitter had locked his account thinking it had been hacked. The tweet did not clarify the reason or the duration for which the account was locked. (Reuters)

STOCKS TO WATCH

Arconic (ARNC) is the target of an $11 billion acquisition offer from Apollo Global Management, according to Reuters quoting people familiar with the matter. The offer values the aerospace and automotive components maker at between $23 and $24 per share, compared to Arconic's Monday closing price of $21.45.

TD Ameritrade (AMTD) reported adjusted quarterly profit of 92 cents per share, four cents above estimates, with the online brokerage's revenue coming in slightly above Street forecasts. The company also raised its quarterly dividend by 43 percent to 30 cents per share.

Cadence Design Systems (CDNS) beat estimates by eight cents with quarterly profit of 49 cents per share, while the software and engineering company's revenue also beat analyst projections. The company also raised its full year outlook.

Johnson & Johnson (JNJ) is buying the shares of Japanese cosmetics firm Ci:z Holdings that it doesn't already own for $2.015 billion. J&J had held 19.9 percent of the outstanding shares.

AstraZeneca (AZN) is buying a 9.8 percent stake in French biotech company Innate Pharma to expand its presence in the cancer immunotherapy market.

Qualcomm (QCOM) and Amazon (AMZN) are teaming in an effort to spread the use of Amazon's Alexa digital assistance in more wireless headphones. Qualcomm's chips will be able to be used in any Bluetooth headphones to enable the use of Alexa.

Zions Bancorp (ZION) reported quarterly profit of $1.04 per share, seven cents above estimates. The bank said it benefited from disciplined cost controls and strong credit performance.

WATERCOOLER

The iPhone XR, one of Apple's (AAPL) three new new iPhones, offers many of the same features of the iPhone XS, but it costs a lot less. CNBC's Todd Haselton has a review of the device that officially hits stores on Friday.

With the Mega Millions jackpot at $1.6 billion and Powerball's top prize at $620 million, that tax bill will be hefty even if the winner employs strategies to reduce their taxable income. (CNBC)

WATCH:Here's why the Dow doesn't really matter