Economy & Business

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Led by an 8.5 percent drop in China's Shanghai composite index, U.S. and global stock markets took a dive Monday. Shortly after opening, the Dow Jones index fell by more than 1,000 points, or 5 percent. The Dow then zigzagged to close at 15,871, losing about 3.6 percent of its value.

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Every August, Spain's countryside comes alive with fiestas.

A jolly trombone player prances through a crowd of revelers in Cantalejo, a small town about 1 1/2 hours' drive north of Madrid. But the hubbub is deceiving — because hardly anyone actually lives here. People come one week a year to party in the villages of their ancestors. During the other 51 weeks, towns like this are deserted.

Stocks Fall; Dow Down 10 Percent Since May

Aug 22, 2015
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The stock market had its worst one-day crash in four years yesterday. The Dow Industrial Average plunged 531 points, and that was it in just one day. Last week saw a global sell-off that sent markets around the world sharply lower. NPR's Chris Arnold reports.

Wow. That was ugly.

For investors, a brutal week ended Friday with prices plunging for stocks and commodities. The Dow Jones industrial average fell 531 to 16,460, a 3.12 percent drop.

Oil's tumble was especially notable. For a while, West Texas crude was trading below $40 a barrel — the first time that happened since March 2009. It finished at $40.45, marking an eight-week stretch of price declines — the longest losing streak since 1986.

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Pearson was already the biggest education company in the world. Now its education business is getting even bigger. In the past several weeks, the company has sold off its two major media brands, the Financial Times (for $1.3 billion) and The Economist (for about $730 million).

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