Stocks tumbled yet again in midday trading Tuesday as crude oil prices continue to slip. The blue chips were down more than 100 points. The flight to safety is pushing U.S. treasuries higher. The yield on the 10-year benchmark is below 2%. Some disappointing news from the economic front. The services sector slowed in December, the ISM Services Index came in at 56.2 versus estimates for 58.5. Factory orders also dropped more than expected in November, down 0.7%, economists were estimating a decline of 0.4%. AOL (AOL) is coming off its earlier high after CNBC reported Verizon’s (VZ) CEO denied any significant acquisition talks had taken place. Previous reports said Verizon had approached AOL for a possible takeover or joint venture. This would thwart activist investor Starboard Value’s plans for a Yahoo (YHOO) merger with AOL.
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