US Stocks Decline On Economic Data, Overseas Concerns 03/29 10:55 AM NEW YORK (Dow Jones)--U.S. stocks traded lower, extending losses into a third straight day, as a domestic economic growth reading missed expectations and broad weakness in overseas markets kept investors on the defensive.
The Dow Jones Industrial Average was down 76 points, or 0.6%, to 13050. The Dow fell 72 points, or 0.5%, on Wednesday, to suffer a second consecutive loss, and the fifth in seven sessions.
Standard & Poor's 500-stock index lost 11 points, or 0.8%, to 1394 and the Nasdaq Composite declined 22 points, or 0.7%, to 3083.
All S&P 500 sectors traded lower, with telecommunications and financials companies falling the most. Best Buy tumbled 8% after reporting it swung to a big fiscal fourth-quarter loss.
"GDP came in a slight touch below consensus. Europe is still not off the hook. We still have some concerns about Spain and Portugal," said Zahid Siddique, associate portfolio manager of the Gabelli Equity Trust. kennytroll liar, back to rathole |
