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Housing data hits Wall Street; S&P has worst day since August 5

NEW YORK - U.S. stocks closed lower on Monday, with the S&P 500 suffering its biggest one-day decline since early August, as the latest housing data came in much weaker than expected, raising new concerns about the rate of growth in the economy. | Video

Recent Business News

Starbucks testing stout beer-flavored 'dark barrel latte'

- Dark beer lovers take note. Starbucks Corp is testing a "dark barrel latte" in a handful of its cafes in Ohio and Florida.

2:55pm EDT

Airbus, Boeing spar over jet production strategy

ISTANBUL - Airbus and Boeing clashed over jet production on Monday, with the European planemaker questioning the viability of its rival's proposals to hike output and Boeing insisting it will only build the number of jets that its buyers and suppliers can handle.

6:25pm EDT

Citigroup seeks stay on Argentine debt order; government threatens penalties

NEW YORK - Citigroup Inc plans to ask a U.S. judge to put on hold an order barring it from processing payments on $8.4 billion in bonds issued under Argentine law following the country's record 2002 default, court documents showed.

5:51pm EDT

Apple sells more than 10 million new iPhones in first three days

- Apple Inc said it sold more than 10 million iPhones in the first weekend after its new models went on sale on Friday, underscoring strong demand for phones with larger displays. | Video

Tech, Media 7:07pm EDT

BNP Paribas Chairman Baudouin Prot to leave: Le Figaro

PARIS - BNP Paribas SA's board will decide on the departure and the successor of its chairman Baudouin Prot this week, French daily newspaper Le Figaro reported on Monday.

6:20pm EDT

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