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Fears over global slowdown hammer US stocks for 2nd day

NEW YORK (AP) -- Growing concerns about a slowdown in China shook markets around the world on Friday, driving the U.S. stock market to its biggest drop in nearly four years.

The rout started in Asia and quickly spread to Europe, battering major markets in Germany and France. In the U.S., the selling started early and never let up.

Investors ditched beaten-down oil companies, as well as Netflix, Apple and other technology darlings. Oil plunged below $40 for the first time since the financial crisis, and government bonds rallied as investors raced into hiding spots.

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Barrel of US crude drops below $40

NEW YORK (AP) -- A barrel of U.S. crude oil fell below $40 per barrel for the first time since the end of the global economic crisis.

Friday's fall, to $39.86, was just the latest indicator of a vast shift in the energy landscape over the past year. The price of oil has fallen for eight consecutive weeks, the longest streak since 1986. Oil is down 34 percent from its high of $61.43 this year, and 62 percent from its high of $107.26 last year.

A boom in production has outpaced growth in global oil demand. The U.S. is churning out oil at a rate not seen in decades. Meanwhile, even with sharply lower prices, Saudi Arabia and other OPEC nations haven't cut production.

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Sinking currencies point to jitters about emerging economies

WASHINGTON (AP) -- In emerging markets worldwide, currencies are plunging over fears that developing economies are on the verge of a crippling fall.

Success stories until recently, emerging economies are seen as casualties now — of slower growth in China, plunging prices for commodities like oil and iron ore, the prospect of higher U.S. interest rates and homegrown threats.

The damage has spilled across oceans, with the turmoil jolting investors in New York, Tokyo and Europe.

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Experts: Deleted online information never actually goes away

NEW YORK (AP) -- The Ashley Madison hack is a big...


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