Asian Markets Fall Apart in Late Trade, $10 Oil 'Not Impossible'

Asian Markets added more losses in a late selloff. The Shanghai Composite in China fell more than 3%. Oil prices are dropping again and have fallen 25% so far this year. The latest leg lower comes as BP's boss says $10 a barrel oil is 'not impossible'. Viacom (VIA) is cutting the compensation of Executive Chairman Sumner Redstone who is suffering from declining health. The 92 year old executive was paid $2 million in salary in Viacom's 2015 fiscal year, according to an SEC filing. The compensation was an 85% reduction compared with 2014 when Redstone received $13 million in salary, bonus and other perks. The next installment of Disney's (DIS) 'Star Wars' has been delayed by 7 months. The film was originally slated to debut in May, 2017 but will not be released in December, 2017. Disney gave no reason for the push later.