3-years probation for Volkswagen

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The markets turned negative during the midday with the Dow dropping 63 points to 20,515. Nasdaq fell 16 points to 5,900.


Volkswagen was sentenced to three years probation and independent oversight for its diesel emissions scandal. A $2.8 billion criminal penalty was also imposed on the German automaker. The penalty is on top of $1.5 billion that Volkswagen agreed to pay to settle civil claims filed by the Environmental Protection Agency and U.S. Customs.


Google Home introduced a new multiuser feature that can recognize up to six different people's voices. Google Home will use each person's account to provide individual commute times, playlists and calendars. The new feature is available on the latest version of the Google Home app.


Struggling women's apparel retailer Bebe Stores will close all of its locations by the end of May. The company had announced plans last month to explore strategic alternatives in order to avoid filing for bankruptcy. Liquidator Tiger Capital Group will sell all of Bebe's inventory.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index fell 10 points to 2,345. Bitcoin gained $7 to $1237.


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