MARKETS ARE TANKING: What you need to know on Wall Street

Challenger 2 british tankStaff Sgt. Brooks Fletcher, US Army Europe Public AffairsA Challenger 2 tank from the Britished Armed Force’s 3rd Battalion, Mercian Regiment, waits in position for a possible attack, as a part of Saber Junction, on Hohenfels Training Area, Oct. 28. Saber Junction is a large-scale, joint, multinational, military training event with US Soldiers and more than 1,800 multinational forces.

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Global markets are in a big sell-off.

The group of stocks known as FANGS – Facebook, Amazon, Netflix, and Google (that is, Alphabet) – dropped sharply, while in the energy sector Chesapeake dropped more than 50%.

That spells bad news for billionaire investor Carl Icahn, who has a stake in the oil and gas company.

You can find everything else you need to know about the day’s market moves here.

In other news, New York hedge fund Perry Capital is making a $1 billion bet on more bond-market pain, $3 billion hedge fund Lakewood Capital is long Comcast, and Chinese companies have been acquiring foreign companies at an unprecedented rate.

Finally, you can check out all of the ads from the Super Bowl, including those by SoFi, Paypal, Quicken Loans and SunTrust, here.

Here are the top Wall Street headlines at midday:

Millennials are investing all wrong – Swiss bank UBS polled 1,117 millennials and Gen X investors in December as part of its regular Investor Watch report and asked them a bunch of questions about investing.

Wall Street crooks get a screen test – and this time pull in big audiences – Wall Street villains are having their big moment on both television and the big screen.

The aerial data revolution is approaching Most Americans still view drone technology as potentially invasive, a public nuisance, and a safety hazard. At best drones are viewed as toys, at worst weapons of war.

GRANTHAM: The stock market sell-off makes me nervous, but I fear the big crash is coming later In his latest quarterly outlook, Jeremy Grantham, cofounder and chief investment officer at GMO, outlines his views on the markets and the economy.

An Arab billionaire shares his explosive views on Obama, Iran, ISIS, and what falling oil prices will do to the Middle East At the World Economic Forum in Davos, we interviewed an Egypt-based Arab billionaire investor.

The drug industry is under attack in Washington — here’s how it plans to win back political support Drug-price increases, and in particular price gouging, are a hot topic with the House of Representatives holding hearings on the matter.

Ferrari’s new GTC4 Lusso has supercar power — and room for the whole family – Ferrari introduced its newest offering today — the GTC4 Lusso.

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