Afternoon update: Monday stock market blues; Hearst updates iOS digital edition apps
US and European stock markets fall hard as oil falls below $30 a barrel once again; investors worry that tumbling energy prices could lead to loan defaults, hurting the banking sector
The biggest stock market crashes always seem to happen on a Monday, yet another reason to hate Mondays. Today, US and European market sunk big time, though maybe not so much too call it a crash. But if you are fully invested in the stock market, and were planning on retiring soon, I’ve got some bad news for you.
European markets led things off, falling over 3 percent. The FTSE Italia was even worse, falling 4.7 percent.
The Dow is down over 2 percent, the NASDAQ down over 3 percent.
What is going on? Certainly it is not a reaction to the Carolina Panthers losing, right?
Well, oil is again getting blamed, as the price of crude once again fell below $30 a barrel – what’s good for consumers is not so good for energy producers, the thinking goes.
If you are an investor and you think the sky might be falling… you might be right.
For the first time in nearly two centuries, it appears that a falling meteorite may have killed someone. A bus driver in India appears to have been struck; the debris also injured two others.
“The last recorded human fatality caused by a meteorite was in 1825, according to a list kept by International Comet Quarterly. That, too, was in India,” The Washington Post reported.
The reason for the update is to fix a crash issue, as well as other bug fixes.
Hearst magazine apps are generally marked down by readers because the publisher forces readers to choose between print and digital – no free digital editions just because you are a print subscriber. The result may be poor reader reviews, but it was thought that this might force readers to choose and therefore move to less expensive digital.
These apps were made using the Adobe Digital Publishing Suite which allowed for issues to be downloaded and read offline. The recent move to the new Adobe DPS, though, has meant that those readers are mobile devices would need to be online to access stories (unless they had previously accessed the stories). It’s a tough choice to make: force readers to download big issue files before going offline (old platform) or lighten the load by having readers download the stories when accessed (new platform).
Adobe updated its mobile version of Adobe Photoshop Express, fixing an issue where users were not seeing edited photos on top of the Camera Roll . Adobe says the app now “respects edits made to photos in other apps including Apple’s Photos App.”
Google also issued updates for Google Maps and Gmail apps for iOS. Both updates add improvements to their search mechanisms.