Best Buy giving up on CD sales
NEW YORK (LilaMax Media) —
Best Buy is pulling compact discs from its stores. It says no one buys them anymore. Target could be next. With streaming services, there doesn't seem to be much room for CDs anymore. Consequence of Sound says over 800 million CDs were sold in the U.S. in 2001 but that number has dropped to 89 million.
Stocks tumbled Monday with the sell-off reaching a terrifying 1,600 points in the Dow. It closed down more than 1,100, the largest single-day point drop in history.
The White House said the fundamentals of the economy are still strong and are headed in the right direction. Recent economic reports have been strong and ironically, that is causing some to worry about rising interest rates and inflation, sending stocks plummeting.
Strategists range from saying there is likely another one or two days of selling to go. Others say they love this because they can buy stocks on sale.
And splurging like there's no tomorrow can be a big turn off on dates. Nerdwallet says some 40 percent of people say irresponsible spending is a bigger turnoff than bad breath and more than half say they wouldn't marry someone with bad credit.