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A serious jolt... Pfizer gets go-ahead on Hospira... Target settles discrimination claim

By The Associated Press | Posted - Aug. 24, 2015 at 12:11 p.m.



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NEW YORK (AP) — U.S. investors got a serious jolt when the Dow Jones industrial average tumbled 1,000 points minutes after the market opened in a wave of selling that circled the globe after a historic plunge in Chinese stocks. Though the declines eased significantly as the morning went on, it sent a shiver of fear through Americans with retirement accounts or those saving to buy a home that the bull market is over.

NEW YORK (AP) — As of 1:30 p.m. EDT, the Dow was down 236 points, or 1.43 percent, to 16,223 points. The S&P 500 dropped 32 points to 1,938. The Nasdaq composite fell 55 points to 4,650 points. The three indexes are down for the year.

NEW YORK (AP) — Drugmaker Pfizer says it's received the final regulatory approvals for its $15.23 billion purchase of the injectable drug and infusion device maker Hospira. Pfizer says the deal will close in early September.

MINNEAPOLIS (AP) — Target Corp. has agreed to pay $2.8 million to settle a hiring discrimination claim filed by the U.S. Equal Employment Opportunity Commission. The EEOC says three employment assessments formerly used by the Minneapolis-based retailer disproportionately screened out applicants for professional positions based on race and gender, and the tests were not sufficiently job-related.

SALT LAKE CITY (AP) — The world's largest outdoor retail show is staying in Salt Lake City despite a shortage of lodging and meeting space. State and county officials in Utah announced at a news conference that the show has renewed its contract two more years through 2018. The Outdoor Retailer Show comes twice a year, bringing Utah a $45 million annual economic boost.

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The Associated Press

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