As prices for oil, metals and other commodities weakened, stocks closed lower on Wednesday. Energy and mining companies suffered the biggest declines.
CLOSING BELL
Dow Down 80, Nasdaq Slides 52
Stocks are closing lower, led by declines in energy and mining companies as prices for oil, metals and other commodities weaken.
Several companies were also falling Wednesday after reporting disappointing results or outlooks.
Nike, one of the 30 stocks in the Dow Jones industrial average, sank 4% after reporting revenue that fell far short of what analysts were looking for.
The declines put the market on track for its first weekly loss since mid-February.
The Dow average gave up 80 points, or 0.5%, to 17,502.
The Standard & Poor’s 500 index lost 13 points, or 0.6%, to 2,036. The Nasdaq composite declined 52 points, or 1.1%, to 4,768.
BRAND CONNECTIONS
Bond prices rose. The yield on the 10-year Treasury note fell to 1.88%.
Comments (0)