Wall Street Stocks Slide Lower After Six-Day Streak
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iStock/Thinkstock(NEW YORK) –After a six-day rise, Wall Street markets took a dive following investors’ reactions to the latest earning news and a less-than-stellar report on home sales.
The Dow Jones Industrial Average closed down 13 points at 16,501.65. The Nasdaq Composite lost nearly 35 points at 4,126.97, and the S&P 500 fell 4 points at 1,875.39.
A report from the Commerce Department on Wednesday shows a decrease in the number of Americans purchasing new homes. Sales of newly-built homes dropped more than 14 percent in March. Representatives attributed colder weather to the dip in numbers.
Adding to dropping stocks, surgical robot maker Intuitive Surgical plunged 11 percent after a drop in its first-quarter earnings. Among those advancing were airlines, with Delta up 4 percent.
Facebook reported its first-quarter earnings, announcing a revenue of $2.5 billion and earnings per share of 34 cents. Apple declared a net profit of $10.2 billion, with quarterly sales of $45.6 billion and a 7 for 1 stock split.
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