Stocks ended the day significantly down as Janet Yellen announced that they would continue tapering the stimulus package by another $10 billion to $55 billion per month. As more Americans are signing up for Obamacare, many are now struggling to find doctors and hospitals that will take their new health insurance. In some situations, Americans are having to drive more than an hour to find a specialist that will accept their new insurance. And if an emergency were to occur they would have to pay out of pocket for a hospital or specialist visit nearby, thus defeating the point of having insurance. The Justice Department issued Toyota (TM) a $1.2 billion fine to settle a criminal probe in regards to the handling of reports of unintended acceleration in its vehicles and the subsequent recalls that began in 2009. This marks the largest criminal penalty issued to any car company in U.S. history.
Word on the Street
- FedEx (FDX) suffered from winter storms, lower-than-expected results.
- Pandora (P) is getting rid of yearly subscription, increases monthly rates.
- How is newly appointed GM (GM) CEO dealing with the recall crisis?
- Obamacare signups hit the 5 million mark.
- What will Apple (AAPL) in cars mean for the auto industry?
- Toyota (TM) agrees to $1.2 billion criminal fee.
- Hewlett-Packard (HPQ) up on stock upgrade.