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Stocks Pummeled, And Downward Momentum Continues

By Morning Outlook FOXBusiness

The momentum on Wall Street was sharply to the downside yesterday, with another big pullback in biotech and Internet stocks erasing more than 3% from the Nasdaq -- its biggest one-day drop in two-and-a-half years.

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The Dow fell by 267 points, and the negative momentum is continuing into Friday morning.

Meanwhile, Freddie Mac says the average 30-year mortgage rate fell to 4.34%. Lower rates may compel some homebuyers to jump in and buy.

Amazon CEO Jeff Bezos is telling shareholders in his annual letter that the web giant is expanding Sunday delivery in some markets.

And, if you're not happy with what Amazon is working on ... it will pay you to quit.

That's right. Workers at Amazon fulfillment centers can get $5,000 to leave if they're unhappy with their jobs.

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Imagine someone stealing your identity, filling out your tax return -- and then stealing your refund!

It happens more than you think. The IRS says it opened nearly 1,500 criminal investigations related to identity theft last year, a 66% increase over the previous year.

By Lauren Simonetti

Lauren Simonetti joined FOX Business Network (FBN) in September 2007 as a field producer and became a reporter for the network in September 2011. She is also the host of FBN:AM that airs at 5AM/ET.

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