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NEW YORK (AP) — Stocks are falling on more signs of weakness from China's economy and worries about North Korea's nuclear program. The Dow Jones industrial average has been down more than 200 points for much of the day, and the Standard & Poor's 500 index is on pace for its lowest close since October. Energy stocks fell far more than the rest of the market, as oil prices slide to near their lowest level in 12 years.
WASHINGTON (AP) — Minutes of the Federal Reserve's last meeting show that Fed officials believe economic conditions will likely justify "only gradual increases" in its benchmark interest rate. Even though they voted unanimously to raise the rate a quarter-point last month, some policymakers viewed their decision as a "close call" given on-going concerns about stubbornly low inflation.
NEW YORK (AP) — Apple had an app-y holiday season. The tech powerhouse says customers spent $1.1 billion on apps and in-app purchases during the two weeks that ended Jan. 3. New Year's Day was the biggest day ever for the app store, with $144 million in sales. Christmas Day was second. Overall in 2015, shoppers spent $20 billion in the app store, which sells apps for the iPhone, iPad, Mac and the Apple Watch and Apple TV.
SAN FRANCISCO (AP) — Netflix has begun streaming its Internet video service in 130 more countries, nearly completing its expansion a year ahead of schedule. CEO Reed Hastings made the surprise announcement at the end of a presentation today at the consumer electronics show in Las Vegas. With its latest move, Netflix is now available in about 190 countries. China is the only major missing piece in the company's global matrix. Netflix has more than 70 million subscribers.
WASHINGTON (AP) — The official IRS watchdog is warning that the agency may soon dramatically scale back telephone and face-to-face service as part of a plan that would focus more on online accounts for taxpayers seeking help. National Taxpayer Advocate Nina Olson says the service cutbacks may mean that more people may have to turn to tax preparers and to software such as TurboTax to file their returns. That would increase tax compliance costs for millions of filers.
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