Stocks Tumble on Ebola Fears

U.S. stocks dropped sharply on Wednesday, as the first diagnosis of Ebola in a patient in the United States
spooked investors. At close, the Dow Jones industrial average fell 238.19 points, or 1.40%, to 16,804.71. The S&P 500 lost 26.13 points, or 1.32%, to 1,946.16. The Nasdaq Composite dropped 71.31 points, or 1.59%, to 4,422.08.

The first confirmed Ebola case in the U.S. is fanning fears around the country. The Ebola news pressured
shares of airlines and other transportation names.

General Motors Co. on Wednesday reaffirmed its near-term profitability targets, and said it plans to make
money in Europe in 2016 and achieve 10 percent margins in North America in the same year.

The New York Times Co. NYT, +9.63% reported Wednesday that it will eliminate about 100 jobs from its newsroom, and a smaller number of jobs from its business operations.