Stocks are closing with their worst one-day loss of the year as investors look past the election and focus on big problems ahead in Washington and in Europe.
The election behind them, U.S. investors dumped stocks Wednesday and turned their focus to a world of problems -- economically harmful tax increases and spending cuts at home and a deepening recession in Europe.
Kansas officials and university economists are preparing to issue new revenue projections for Gov. Sam Brownback and legislators to use in making budget decisions.
The price of oil is slightly higher as investors remain cautious ahead of the U.S. presidential election. They're also assessing how much demand for oil has dropped in the storm-stricken Northeast.
Disney is paying $4.05 billion to buy Lucasfilm Ltd., the production company behind "Star Wars," from its chairman and founder, George Lucas. It's also making a seventh movie in the "Star Wars" series.
With lower Manhattan still largely without power Tuesday, U.S. stock exchanges tested contingency plans to ensure trading resumes as soon as possible this week after Hurricane Sandy smashed into the East Coast and shut down operations.
Oil giant BP is asking a federal judge to disregard objections from a fraction of claimants and give final approval to a proposed multibillion-dollar settlement for economic damages from the Gulf spill.