Stock Market Sets Single-Day Loss Record

It was a bad day on Wall Street yesterday, the Dow Jones Industrial Average plunging by almost 1,600 points, the biggest drop on a single trading day in history.

CNN reports, “Buyers charged back in and limited the damage, but at the closing bell the Dow was still down 1,175 points, by far its worst closing point decline on record.”

The drop, which equated to 4.6%, was the biggest decline since August 2011. Trading futures suggested the Dow would open 1.3% lower in this morning, according to the Wall Street Journal. Yesterday's drop erased its gains for the year.

Most experts were predicting a market "correction" from the record highs it has been enjoying in recent weeks, though some were surprised by just how steep yesterday's decline was. The fear that the Dow will tumble into a bear market remains.

Elon Musk is Sending a Tesla into Space Today

Elon Musk's SpaceX is launching a rocket that could change the future of humanity.

At 1:30pm today, the Falcon Heavy rocket will launch, carrying Elon Musk’s red Tesla. According to National Geographic, the Falcon Heavy would be the most powerful operational rocket in the world, with almost five million pounds of thrust.

This mission plan calls for the Tesla to go into an elliptical orbit around the sun, and as far out as Mars. The car is part of 140,000 pounds of cargo that the Falcon Heavy plans to carry — a significant weight that Musk hopes to eventually replace with passengers.

He says that it will “either be a great rocket launch or the best fireworks display they’ve ever seen.”

Today in a Tweet

Doc: Tell me, Future Boy, who's President of the United States in 1985? Marty: Ronald Reagan. Doc: Ronald Reagan? The actor?
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Are 'Lady Doritos' Fake News?

Reports were circulating yesterday that PepsiCo was going to begin marketing a chip for ladies that doesn't crunch — "Lady Doritos" — after PepsiCo chief executive Indra Nooyi discussed the different ways that men and women eat chips during a recent Freakonomics podcast.

It's not exactly clear whether this was an idea, a product in development or just reporters getting carried away, but CMN's Arianna Lynne rounded up some reaction to the concept just in case.

A Deadly Day on Iowa Highways

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A massive pileup on Route 35 in Iowa. (Image: KCCI 8)

A snowstorm in Iowa triggered massive auto accidents across the state yesterday — state police put the count at 185 as of this morning — resulting in seven deaths, including teenage sisters. Sgt. Nathan Ludwig, who has worked for Iowa State Patrol for nearly 20 years, told the Des Moines Register he could not remember another day this deadly on the roads.

A car driven by a 17-year-old lost control on route 40 in Decorah, IA, crossed the center line and collided with a pickup truck, killing the driver and her 13-year-old sister. Four other teenagers riding in the car were injured.

The cast of "Dancing With the Stars Live" were also forced off the roads, causing them to cancel a scheduled appearance in the state.

Last But Not Least: This College has a 'Comedian in Residence'

American University is trying something new to connect the public to social issues through comedy: a Comedian in Residence.

The new position is part of the Laughter Effect, which focuses on helping people understand the world and social issues through comedy. This is the second year since the launch of the Effect by American University’s Center for Media & Social Impact.

Get more details in this report from CMN's Savannah Hoag.
Today's Morning Scoop was compiled by Natalia Kolenko, Anjalie Tandon, and the CMN Staff. You're all settled in for this semester, right? OK, good, just checking.