Lower Durable Goods Orders Lead to Third Straight Day of Losses on Wall Street
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iStock/Thinkstock(NEW YORK) — Stocks fell for the third consecutive day on Wednesday as the number of orders received by U.S. factories for long-lasting manufactured products fell for the third time in four months.
The Dow Jones Industrial Average dropped 2,792.60, closing the day at 17,718.54.
The Nasdaq fell to 4,876.52, losing 118.21 in Wednesday’s session, while the S&P 500 slipped 30.45 to 2,061.05.
The U.S. Commerce Department said Wednesday that new orders on durable goods dropped by $3.2 billion, or 1.4 percent. That figure has dropped for three of the last four months, the department notes.
Also on Wednesday, Kraft and Heinz announced a merger that would create the third-largest food and beverage company in North America.
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