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Volkswagen AG dropped the most in almost seven years after it admitted to cheating on U.S. air pollution tests for years, risking billions in potential fines and a backlash from consumers in the world’s second-biggest car market.

The shares plunged as much as 22 percent to 126.40 euros, the steepest intraday decline since Oct. 24, 2008, extending the stock’s slump for the year to 32 percent. The drop wiped out about 16 billion euros ($18 billion) in value, making the Wolfsburg, Germany-based company worth 60.4 billion euros.

Volkswagen Chief Executive Officer Martin Winterkorn said on Sunday that the company is cooperating with the probe and ordered its own external investigation into the issue. The CEO said he was “deeply sorry” for breaking the public’s trust and that VW would do “everything necessary in order to reverse the damage this has caused.”

Winterkorn, whose contract renewal is scheduled for a supervisory board vote on Friday, now faces a serious challenge to his leadership, said Arndt Ellinghorst, a London-based analyst for Evercore ISI.

“This latest saga may help catalyze further management changes at VW,” Ellinghorst wrote in a note Monday.

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When Alibaba conducted its IPO in September 2014 it was every bit the blockbuster anticipated, selling more shares at a higher price than planned and surging more than 35% when it opened for trading. A year later though, the stock has stumbled below its $68 offering price and become a flashpoint for fierce debate between bulls and bears.

The summer of 2015 has turned up the heat on Alibaba, culminating in last weekend’s critical Barron’s cover story chronicling issues ranging from the company’s problems with counterfeit goods to corporate governance and its lofty market valuation (even with shares already well below their peak). In a point-by-point rebuttal, Alibaba argued that its valuation is much closer to eBay EBAY at a comparable period in that company’s growth cycle and that it has taken substantial steps to identify and penalize merchants dealing in fake goods.

Bulls were quick to defend Alibaba, pointing to past examples of poorly-timed market and stock calls from various financial publications over the years. But many of the issues raised by Barron’s are not easily dismissed.

There is no telling what will happen with Alibaba’s stock, but whatever it is, you can definitely make some money from predicting it correctly. Wait for our signals before making your move!

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Yesterday we made a poll asking YOU what you think that will happen to the EUR/USD following the Fed’s announcement. This is what you said:

Well, you guys predicted the correct result, that the EUR/USD will go up!

European stocks fell on Friday and bonds rose, pushing yields sharply lower, after the U.S. Federal Reserve cited weakening global growth and the recent upsurge in financial market volatility as its reasons for not raising interest rates.

Stocks and currencies in emerging markets, however, which are more vulnerable to higher U.S. interest rates, welcomed the Fed's decision on Thursday to postpone "lift off" for at least another month, and rose across the board.

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U.S. stock futures were lower Thursday while global stock markets wavered as investors bet that the Federal Reserve would not raise interest rates.

Stocks rallied Wednesday afternoon after the Fed kicked off its long-awaited two-day policy meeting.

Two months ago, it seemed almost certain that the Fed was going to raise rates in September, but following turmoil in financial markets and concerns about China’s economy, more investors believe the Fed will wait until December to raise rates.

Interest rates have been near zero since 2008 in response to the financial crisis and recession. The Fed’s low interest rate policy was designed to encourage lending, but it also helped drive a seven-year bull market in stocks.

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Facebook is finally going to do it -- it's finally going to make a "Dislike" button.

"We have an idea that we're going to be ready to test soon, and depending on how that does, we'll roll it out more broadly," Facebook CEO Mark Zuckerberg said during a townhall Q&A at Facebook's headquarters on Tuesday.

He said making something so "simple" is surprisingly complicated, but after years of people demanding the option to "dislike" a Facebook post, the company is finally ready.

The company had hesitated to launch a dislike button, but it has realized that people want to "express empathy" on posts about unpleasant news. "Not every moment is a good moment," he added.

Zuckerberg, who was recently named the most powerful person in business and media by Vanity Fair, has been holding town halls like these regularly. He says it's an opportunity for him to update Facebook (FB, Tech30) users on how the company is working to make new services.

Later this month, Zuckerberg will host another townhall-style Q&A with a guest -- Indian Prime Minister Narendra Modi. The two will discuss "how communities can work together to address social and economic challenges."

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Images of a father struggling to hold his baby above the waves and of drowned Syrians washed ashore have not deterred Racha Sattout from gambling her life to seek sanctuary in Germany after fleeing a Syria ripped apart by war.

For her and thousands of others waiting to cram onto rubber boats on Turkey's shores to cross to the Greek islands, the choice is simple: die in Syria or risk death at sea in the hope of reaching safety and a new life in Europe.

But after she saw the heart-wrenching pictures of Aylan Kurdi, the Syrian Kurdish toddler who drowned this month, she decided to take that risk alone. She left her daughter Riham, 8, and son, Raed, 10, with her husband in Aleppo, and traveled to Turkey. Her hope is to win refugee status in Germany and thereby the right to bring her family to her new home.

But Racha's experience on her journey to date has been bitter, and is typical of the hardships and exploitation suffered by the thousands following the same treacherous route.

A week after arriving in Turkey, using money her sister sent her from Spain for the trip, she was still stranded in a hotel in the coastal city of Izmir at the mercy of people smugglers greedy for money.

"Every night the smuggler says this will be the night of the journey, but he keeps stalling and increasing his prices while my money is dwindling away," she says. Now she has moved in with a Syrian family in Izmir and is looking for another smuggler.

The unstoppable flow of people risking tiny rickety boats and the chicanery of smugglers to cross the Mediterranean shows no sign of abating, and is personalizing the collective tragedy of tens of thousands of Syrian refugees.

They are fleeing a conflict that began as a popular uprising in 2011, but quickly turned into a war that has killed over 250,000 people, creating more than 4 million refugees and displacing some 7.6 million more within the country.

Reminders of the risks come daily. Thirty-four refugees, 15 of them children, drowned when their boat sank off a Greek island on Sunday. Thousands have died in what is fast becoming Europe’s worst refugee crisis since the Second World War.

The refugees' stories speak of a devastated homeland, tremendous dangers to escape and rewards available to those who smuggle them – including fellow Syrians who have taken on the job of trying to make a treacherous passage safer.

Racha says that when a shell landed yards from her son six months ago, she and her husband decided it was time to flee Aleppo, a trading city fought over by the forces of President Bashar al-Assad, mainstream rebels and jihadi forces, including Islamic State.

"We sleep in bombardment and we wake up in bombardment," she said. "The situation in Syria is only getting worse; there is no sign that our ordeal will end, and the sea to Europe is the only hope left for us." Asked if she had seen the news reports of people drowning and whether that put her off, her answer was immediate.

"I’m scared of dying but...we’re dying in Aleppo a hundred times a day – what’s the difference? At least if I make it I might be able to do something to save the family." "When I look at how much my children are suffering, my heart aches. 

BMW CEO Harald Krüger collapsed at a presentation Tuesday during the media day at the Frankfurt Motor Show.

The 49-year-old was making his first major appearance as boss and fainted five minutes in to the company's news conference. He has been the company's CEO since May.

He was helped to his feet by two assistants and escorted from the stage in front of the assembled media. BMW said Krüger's health was "stable and he is recovering well."  

The major candidates running for U.S president, along with an even larger number of independent groups supporting them, raised an unprecedented $388 million in the first half of the year. So where did all this money come from?

Jeb Bush

Jeb Bush was the fundraising leader in the first half of 2016, pulling in $115 million, mostly through his super-PAC. Not surprisingly, the former Florida governor leaned heavily on his home state, but he also picked up large checks from across the country. He had a lower number of donations than some of his rivals—possibly because he waited until later in the year to declare his candidacy and become eligible to accept direct campaign contributions.

Marco Rubio

Marco Rubio’s donor base looks a lot like Bush’s, just smaller. In addition to his super-PAC, he’s getting support from a politically active nonprofit group that raised $15.8 million and doesn’t have to disclose the identities—or locations—of its donors.

Scott Walker

Scott Walker also has a national fundraising profile. There aren’t many small donations because he declared for the presidency in July and therefore was unable to collect any direct campaign contributions in the first half of the year.

Hillary Clinton

Hillary Clinton’s contributors skew more toward the coasts than the leading Republicans’, and didn't write any checks larger than about $1 million.

Bernie Sanders

Most of sanders’ cash came from donors who gave such small amounts—under $200—that their names and addresses weren’t required to be disclosed. Sanders attracted small-dollar contributions from across the country while discouraging the formation of any super-PACs to support him.

Sanders is not the only one who is depending primarily on small donations from across the country. Ben Carson, Mike Huckabee, and Rand Paul fit that pattern to some degree.

Donald Trump

The billionaire Donald Trump is largely self-funding his campaign and didn’t solicit donations in the first half. A few trickled in anyway, from all over the place.

Ted Cruz

Ted Cruz’s supporters are both widespread and well-heeled. His campaign gathered a large number of small checks from across the country, and his superPACs got huge donations from three families, in New York, Texas, and Puerto Rico. (The Puerto Rico donation is from Toby Neugebauer, a retired private-equity fund manager who recently moved to the territory from Texas.)

Bush vs. Clinton

Now for the matchups. Here’s Bush vs. Clinton. The former Florida governor dominates his home state. Clinton wins the West Coast and Colorado.

Clinton vs. Sanders

Even though Sanders raised much less than Clinton, he had more small-dollar support in some parts of the country outside of major cities.

Carson vs. Sanders

They come from opposite parties, but Sanders and Carson were both standouts when it came to small-dollar fundraising.

Bush vs. Carson

Two of the top Republican contenders had very different fundraising strategies. Bush spent most of the first half of 2015 raising big checks for his super-PAC, while Carson raked in small amounts from across the country.

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Russia has positioned about a half dozen tanks at an airfield at the center of a military buildup in Syria, two U.S. officials said on Monday, adding that the intentions of Moscow's latest deployment of heavy military equipment were unclear.

Moscow has come under increased international pressure in recent days to explain its moves in Syria, where the Kremlin has been supporting Syrian President Bashar al-Assad in a 4-1/2-year war.

The Pentagon declined to directly comment on the Reuters report, saying it could not discuss U.S. intelligence. But a U.S. Defense Department spokesman said recent actions by Moscow suggested plans to establish a forward air operating base.

"We have seen movement of people and things that would indicate that they plan to use that base there, south of Latakia, as a forward air operating base," Pentagon spokesman Captain Jeff Davis told a news briefing.

One of the U.S. officials, who spoke to Reuters on condition of anonymity to discuss intelligence matters, said seven Russian T-90 tanks had been observed at the airfield near Latakia, an Assad stronghold.

The two U.S. officials said Russia had also stationed artillery that appeared to be arrayed defensively to protect Russian personnel stationed there.

Reuters has previously reported that Russia had deployed about 200 naval infantry soldiers to the airfield, as well as temporary housing units, a portable air traffic control station and components for an air defense system.

In a sign of the pace of Russia's buildup, Moscow has been sending about two military cargo flights a day to the airfield over the past week, U.S. officials say.

A diplomatic source, speaking to Reuters in the region on condition of anonymity, said the Russians were working to improve the airfield."There have been trucks going in and out. It appears the runway is not suited to some types of aircraft yet and they have been doing some improvements," the diplomat said.

Russia has said it will continue providing military supplies to Syria and that its assistance to the Syrian army is in line with international law.

The United States is using Syrian airspace to lead a campaign of air strikes against Islamic State. A greater Russian presence raises the prospect of the Cold War superpower foes encountering each other on the battlefield.

So far, Russia has not sent combat aircraft or helicopter gunships to the airfield, the Pentagon said.

Both Moscow and Washington say their enemy is Islamic State, whose Islamist fighters control large parts of Syria and Iraq. But Russia supports the government of Assad in Syria, while the United States says his presence makes the situation worse.

White House spokesman Josh Earnest told reporters on Air Force One that any Russian support to Assad would be "destabilizing and counterproductive." But the White House appeared to hold out hope for some degree of cooperation with Moscow, noting shared concerns about violent extremism.

State Department spokesman John Kirby said Russia's ultimate goal in Syria remained uncertain.

"Clearly, they are providing more assistance," Kirby said. "But the ultimate goal? The ultimate intent here? I think there's still a degree of opaqueness about that."

The Syrian civil war, in which about 250,000 people have died, has caused nearly half of Syria's prewar population of 23 million to flee, with many thousands attempting to reach Europe.

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