Advanced Micro Devices Plummets; Stocks Slide on Fed Hike Debate

Advanced Micro Devices (AMD) tumbled Monday after Citi analysts said a buyout from Microsoft (MSFT) was unlikely. Rumors of a deal in the works had pushed AMD shares up more than 9% on Friday. A decision on interest rates won't be announced for another three days but the anticipation was getting to Wall Street on Monday. Stocks closed modestly lower as investors wait anxiously for Fed members to convene for their two-day meeting on Wednesday. Google (GOOGL) has been found guilty in a Russian antitrust probe, according to the country's regulators. The search engine company was accused of abusing its market dominance in how it bundled apps with its Android operating system. Google will receive details of the ruling within 10 business days.