Comcast Falls on $33M Settlement; Stocks Slump on Fed Confusion

Comcast (CMCSA) tumbled Friday after agreeing to pay $33 million to settle a customer complaint. The accusation was over whether it illegally shared personal information of customers who paid for unlisted service. Stocks hovered at session lows through to the close as the question of when a rate hike could occur loomed large. The Fed opted to leave rates unchanged yesterday, fueling even more uncertainty and volatility. Crude oil prices were sharply lower as a selloff in equities bled into commodity markets. West Texas Intermediate crude closed down 4.7% percent to below $45 a barrel. U.S. oil producers idled eight more rigs over the past week, its third straight weekly decline. The oil rig count is now down 60% from a peak set last October.