QUICK SPARK: AT&T Sinks 11% In Worst Day Since 2000 As SpaceX Spectrum Deal Rattles Carriers

AT&T Inc. (NYSE: T) experienced its largest one-day loss since 2000, with shares dropping 11% to $22.14. This decline follows SpaceX's announcement of a deal to acquire 800 megahertz spectrum licenses, which could enable competition with AT&T and Verizon Communications Inc. (NYSE: VZ), which also fell 11%. AT&T CEO John Stankey has minimized the potential threat from SpaceX's new service.