Skip Navigation Links

Bookmark and Share
What you need to know on Wall Street today

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

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.

In markets news

  • BANK OF AMERICA: Corporate America is about to unleash 'dry powder' onto the market that could end the sell-off, and 2 sectors will spearhead the profits
  • MORGAN STANLEY: These 10 stocks are going to explode higher during earnings season

Join the conversation about this story »

NOW WATCH: Beware one huge mistake investors often make when the economy is at a crossroads, says Charles Schwab’s investment chief

Full "The Business Insider: The Money Game" article

Disclaimer | Terms Of Use And Privacy Statement

© Metals News. All rights reserved.