Dow Closes with Triple Digit Declines
(NEW YORK) -- Wall Street finished the day sharply lower.
The Dow Jones Industrial Average closed down 225 points at 15,112.19 on Thursday. Its biggest loss in nearly two months. The blue chip index has now posted losses in 10 of the last 14 trading days. The Dow is on track to have its biggest weekly drop in nearly four months.
Thursday trading also was rough on the S&P 500 and Nasdaq Composite indices. The S&P was down close to 1.5 percent, while the Nasdaq lost nearly 1.75 percent.
Analysts say the market struggled on Thursday because of disappointing earnings reports from Dow components Wal-Mart and Cisco, a mixed set of readings on the health of the economy and growing concerns that the second half of the year may not be as strong as investors have been expecting.
Another factor traders say contributed to slide: exceptionally light volume on Wall Street. One veteran market watcher said that there were not enough investors trading Thursday to change the market’s mood once things went south at the open.
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