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Morning Outlook

Selling Spree Continues on Wall Street

Stocks fell for a third session Tuesday after the IMF cut its global growth forecast. The Dow and S&P 500 fell around 1% while the Nasdaq tumbled 1.5%; all three indices finished at their lows of the session.  

Ironically, yesterday was the five-year anniversary of the all-time highs for the Dow (14,164) and S&P 500 (1,565).

Today, futures are pointing to yet another lower open on Wall Street.

Shares of Dow component Alcoa (AA) are off about 1% in the pre-market. The aluminum giant came out with its third-quarter earnings last night, and while it beat expectations, reporting revenue of $5.8 billion, the company warned of lower demand for aluminum for the remainder of the year, largely because of a slowdown in China.

The picture is quite the opposite at Yum Brands (YUM). The owner of Taco Bell, KFC, and Pizza Hut does 40% of its business in China; it said demand there was "stronger than ever." Yum raised its full-year profit outlook to show at least 13% growth. Yum shares are up more than 4% in the pre-market.

Apple (AAPL) shares are flat, after falling to just under $636 yesterday. That marks a decline of nearly 10% for Apple.  Shares hit their highest level ever, topping $705, the day the iPhone 5 was launched.  

Some analysts and investors are wondering if the recent pullback is a buying opportunity, or a sign of a larger market deterioration. Apple shares are still up an impressive 55% this year. While Apple is not part of the Dow Jones Industrial Average, it composes 4% of the S&P 500 and more than 10% of the Nasdaq.

Today may be a troubling day for SunTrust Bank (STI). A hacker group, known as Izz ad-Din al-Qassam, is warning that it will target SunTrust's website today, and Regions Financial's tomorrow, for a period of about eight hours.  

Yesterday, the group, which allies itself with an Islamic terror organization, created a denial of service attack on Capital One (COF). Some customers had some problems with the bank's site, experiencing a slowdown and even some outages.

The group says it won't stop its cyber attacks until the anti-Islam video released last month is removed from the Internet.

Izz ad-Din al-Qassam is the same group that has claimed credit for attacks against Bank of America (BAC), Citigroup (C), and the New York Stock Exchange last month.

Lauren Simonetti joined FOX Business Network (FBN) in September 2007 as a field producer and became a reporter for the network in September 2011.