French company Iliad bidding for T-Mobile US

T-Mobile US Inc. has another suitor. Upstart French telecom company Iliad on Thursday said it has offered $15 billion for a majority stake in the fourth-largest U.S. cellphone company.

Dow falls more than 300 points

U.S. stocks had their worst one-day drop since February as traders worried about weak corporate earnings and the looming end of economic stimulus from the Federal Reserve.