Sharp Losses on Wall Street
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iStock/Thinkstock(NEW YORK) — The Dow Jones Industrial Average headed for a bleak benchmark after rough Wall Street trading Thursday.
The 30 industrials closed down 231 points, or 1.4 percent, at 16,108.89 for its biggest one-day drop since early February. The Nasdaq Composite dropped 63 points, or 1.5 percent, to 4,260.42. The S&P 500 gave up 22 points to close at 1,846.34.
Tense talk between the U.S. and Russia over the situation in Ukraine added to the jittery mood in the markets.
The Dow has closed down for each of the last four days. If it finishes in the minus column on Friday, it will be the first complete trading week of drops since May of 2012.
Dollar General fell 3 percent, to $57.52, after the company reported its fourth quarter earnings took a hit from harsh winter storms.
The Commerce Department says Americans spent more on autos, clothing and furniture last month, pushing retail sales up 0.3 percent in February. The increase suggests spending is beginning to recover as winter comes to an end.
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