Why markets plummeted, Adidas’ basketball scandal ends, and Tesla surges 12% on Model 3 profit

Summary: Tesla just enjoyed its 3rd ever profit thanks to its Model 3 -- shockingly, America’s best selling car last quarter. Adidas faced a major conviction for its college basketball scandal, and Germany could end up paying for it. And markets are officially in a “correction” -- we break down what that means, and who you can blame.