The markets traded mixed during the midday with the Dow slipping 13 points to 21,736 as the work. Nasdaq rose 12 points to 6,234.
Philip Morris International has been accused by the Indian government of violating the country's antismoking laws. Officials sent the tobacco giant a letter threatening punitive action against the company and its directors. Philip Morris has allegedly engaged in illegal marketing tactics such as distributing Marlboro cigarettes for free at nightclubs and using television screens at events to promote its products.
Cities and states around the country are exploring the option of taxing streaming services such as Netflix and Hulu. As consumers increasingly abandon cable service and video rentals, municipalities have seen their revenue drop. Tech trade groups along with consumer tax groups have opposed the proposed tax.
A terrorist attack in Barcelona sent shares of European airlines and hotels tumbling. Tourism comprised more than 14% of Spain's economy last year and the country is one of the world's top three vacation destinations. Shares of Air France, Ryanair and Lufthansa all fell along with hotel stocks InterContinental and Melia Hotels.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 added 2 points to 2,432. Bitcoin plummeted $245 to $4074.
