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By STAN CHOE

NEW YORK (AP) — U.S. stocks tumbled Tuesday to their worst day since an early August sell-off, as a week full of updates on the economy got off to a discouragingly weak start.

The S&P 500 sank 2.1% to give back a chunk of the gains from a three-week winning streak that had carried it to the cusp of its all-time high. The Dow Jones Industrial Average dropped 626 points, or 1.5%, from its own record set on Friday before Monday’s Labor Day holiday. The Nasdaq composite fell 3.3% as Nvidia and other Big Tech stocks led the way lower.

Treasury yields also stumbled in the bond market after a report showed U.S. manufacturing shrank again in August, sputtering under the weight of high interest rates. Manufacturing has been contracting for most of the past two years, and its performance for August was worse than economists expected.

“Demand remains subdued, as companies show an unwillingness to invest in capital and inventory due to current federal monetary policy and election uncertainty,” said Timothy Fiore, chair of the Institute for Supply Management’s manufacturing business survey committee. read more

Struggling Spirit Airlines, which has invoked multiple measures this year to start making money again, distributed furlough notices to 186 of its pilots over the Labor Day weekend, but the number was considerably smaller than the discount carrier had projected earlier this year, the carrier’s pilots union said.

“Today, Spirit Airlines furloughed 186 pilots,” the Spirit contingent of the Air Line Pilots Association announced in a statement Sunday. The labor group represents the airline’s cockpit crews.

In April, management announced the need to furlough up to 260 pilots starting late this summer as a suspected manufacturing defect in aircraft engines made by Pratt & Whitney forced the airline to start an inspection program that requires the grounding of multiple jets. The company is also deferring the deliveries of new aircraft made by Airbus.

The furloughs were scheduled to start Sept. 1, and management followed through on the plan Sunday, the union said.

The company did not immediately respond to an emailed inquiry Monday to confirm the number announced by ALPA. which said the need for furloughs was mitigated by voluntary actions by the pilots. read more

There’s nothing to see here, or hear here, actually. That’s the message NASA gave after reports of a strange noise heard by astronaut Butch Wilmore emanating from Boeing’s Starliner docked to the International Space Station this weekend.

“A pulsing sound from a speaker in Boeing’s Starliner spacecraft heard by NASA astronaut Butch Wilmore aboard the International Space Station has stopped,” NASA posted to its social media accounts Monday.

It explained the mystery noise as feedback from the speaker that was the result of an audio configuration between the spacecraft and the ISS. Wilmore reported the sound as he was working inside Starliner on Saturday.

“The space station audio system is complex, allowing multiple spacecraft and modules to be interconnected, and it is common to experience noise and feedback,” NASA stated. “The crew is asked to contact mission control when they hear sounds originating in the comm system.”

NASA also took the opportunity to state the feedback has “no technical impact to the crew, Starliner, or station operations, including Starliner’s uncrewed undocking from the station no earlier than Friday, Sept. 6.” read more

By René Bennett, Bankrate.com

Many of us have given in to the temptation to buy something we don’t need.

Maybe you were passively scrolling through your social media feed when a sponsored post came up, showcasing the latest tech gadget with glowing reviews. Unable to resist, you clicked the “buy” button for fear of missing out, only to find the excitement faded not long after, leaving you with regret and a dent in your bank account.

What is impulse buying?

Impulse buying is the act of making unplanned purchases on a whim without considering long-term goals and needs. From flashy tech to trendy fashion items, impulse purchases can quickly drain your bank account and hinder your long-term financial goals.

The temptation is further fueled by social media — 48% of social media users have made an impulse purchase, according to Bankrate’s Social Media Survey. And 68% of those said they regretted an impulse purchase they made on social media.

Coupled with the current high-inflation environment, succumbing to impulse purchases can have even more detrimental effects on our savings than usual. But there are ways you can curb impulsive spending habits and focus on more long-term financial goals. read more

By JOE REEDY

ESPN has gone off the air on a major carrier for the second straight year during the U.S. Open tennis tournament and in the midst of the first full weekend of college football.

Disney Entertainment channels went dark on DirecTV Sunday night after the sides were unable to reach a new carriage agreement.

The move angered some sports fans, who posted their displeasure on social media. And the U.S. Tennis Association wasn’t pleased with another carriage dispute.

ESPN was showing the fourth round of the U.S. Open when it went off the air on DirecTV at 7:20 p.m. EDT.

That was a half-hour before the start of the match between Frances Tiafoe, an American who reached the 2022 U.S. Open semifinals, and Alexei Popyrin, an Australian who eliminated defending champion Novak Djokovic on Friday.

“It is disappointing that fans and viewers around the country will not have the opportunity to watch the greatest athletes in our sport take part in the 2024 U.S. Open due to an unresolved negotiation between DirecTV and Disney, resulting in the loss of access to ESPN. We are hopeful that this dispute can be resolved as quickly as possible,” the USTA said in a statement. read more