Closing Bell: FCC Hits Comcast With Fine; U.S. Stocks Sell Off

U.S. stocks bottom out during Tuesday afternoon's session as a disappointing quarterly performance from Alcoa heralds a poor start to the third-quarter earnings season.

Author:: Keris Alison Lahiff
Publish date:: Oct 11, 2016 4:22 PM EDT

U.S. stocks bottomed out during the afternoon session as a disappointing quarterly performance from Alcoa (AA) - Get Report heralded a poor start to the third-quarter earnings season. A selloff in crude also pressured stocks. Comcast (CMCSA) - Get Report slid after the FCC levelled a $2.3 million fine against the cable company for charging customers for unwanted extras. Comcast must now clearly ask customers whether they want items such as an additional cable box or extra channels. Fastenal (FAST) - Get Report moved lower after missing earnings and sales estimates in its third quarter. The nuts and bolts company suffered from weak demand in heavy equipment and construction markets. St. JudeMedical (STJ) fell after warning that batteries in its implanted heart devices could deplete prematurely. The company said less than 1% of defibrillators were at risk, though two deaths had already been linked to the issue. TheStreet's Keris Lahiff has details from Wall Street.