Declines Continue for US Indexes
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Hemera/Thinkstock(NEW YORK) — U.S. markets saw modest declines for the third consecutive day Wednesday as technology and energy stocks continued to pull the indexes lower. A less-than-satisfactory housing report also hurt the day’s trading.
The Dow closed down 44 points, falling to 13,413.51. The Nasdaq gave up 24 points to close at 3,093.7. The S&P lost eight points and closed at 1,433.32.
Technology stocks fell Wednesday, notably Apple shares, which slid for the third straight day. Sales of the company’s iPhone 5 have been lower than initially expected.
Meanwhile, the Commerce Department says new home sales fell three-tenths of a percent in August. However, the median price of homes rose by a record 11 percent.
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