Stock market news today October 10

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Howard Marks made billions piling into the market at the
depths of the financial crisis — here’s why he’s continuing to
buy now, and what it would take for him to stop

Howard Marks, the co-founder and co-chairman of $122 billion
Oaktree Capital, made a fortune by loading up on distressed
corporate debt during the darkest depths of the financial crisis.

In an exclusive interview with Business Insider, Marks
explained how his overall investment philosophy and views on
market cycles enabled him to make that legendary trade.

Marks also explained why he’s continuing to buy more every day,
and laid out the scenario that would prompt him to get more
defensive.

Dow tumbles more than 500 points amid growth, trade
concerns 

Stocks fell Wednesday as concerns about global economic
growth and ongoing trade tensions continued to hang over Wall
Street and after the bond market resumed a sell-off that started
last week.

The Dow Jones industrial
average dropped as many as 506 points to 25,910.89
at its lows. Technology companies were among the losers,
with the Nasdaq Composite falling
more than 2.3% to 7,559.73. The S&P 500 shed 1.6% to
2,834.61, on track for its steepest loss since June.

Elsewhere, shares of Sears plummeted more than 37%
after a report said the cash-strapped
retailer could file for bankruptcy
protection as soon as this week. 

The $69 billion CVS-Aetna merger just got the green light
— with some conditions

The proposed $69 billion merger between CVS Health and Aetna

is getting a greenlight from the Department of Justice, with some
conditions.

The Justice Department on Wednesday approved the deal on the
condition that Aetna moves ahead with its plan to sell its
Medicare Part D prescription drug plan business, resolving some
anti-monopoly issues.

Aetna announced last month it’d sell the business for an
undisclosed amount.

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