Wall Street Stocks Slide Lower
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iStock/Thinkstock(NEW YORK) — Stocks declined broadly Thursday on the latest batch of earnings and a report on China’s economy.
The Dow Jones Industrial Average closed down 176 points at 16,197.35. The Nasdaq Composite fell 24 points to 4,218.87, and the S&P 500 dropped 16 points to 1,828.46.
The Dow has closed down for two-thirds of the sessions so far this year.
There were mixed results in the last batch of earnings reports released Thursday. Microsoft’s second-quarter revenue was better than expected, as were Starbucks’ first-quarter numbers. McDonald’s fourth-quarter earnings, however, fell short of expectations. United-Continental also lost some altitude in its latest revenue report.
HSBC’s survey of Chinese manufacturing shows a drop to the lowest point since July, a sign of slow economic growth there.
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