The markets traded lower during the midday with the Dow falling 49 points to 18,174. Nasdaq dropped 28 points to 5,281.
Hangzhou Xiongmai Technology will recall up to 10,000 surveillance cameras that were involved in a massive cyber attack last Friday. Hackers used devices such as webcams that have very little security to conduct a distributed denial of service attack that took down Twitter, Netflix and Spotify. The recall involves surveillance cameras that were made for consumers to monitor rooms or small businesses rather than for industrial purposes.
A cyber attack disrupted service for StarHub customers over the weekend. A distributed denial of service attack targeted the Singaporean telecom's domain name servers. The company countered the attacks by filtering traffic and increasing server capacity. Service was restored within two hours.
Volkswagen's record $14.7 billion emission scandal settlement has been approved by a federal judge. The German automaker will spend approximately $10 billion to buyback vehicles and compensate owners. The company must also spend $4.7 billion to offset excess emissions and support clean vehicle projects.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and 5 to 2 Nasdaq. The broader S&P 500 fell 8 points 2,143. Bitcoin rose $6 to $655.
