NEW YORK (TheStreet) -- The major U.S. stock averages continued this week's losing streak after the latest data on the employment picture and manufacturing activitiy disappointed investors.
A poor outlook from retailing giant Wal-Mart Stores (WMT) also contributed to the negativity. The selling pressure extended the recent weakness in equities as worries about the fiscal cliff and the eurozone's stability contribute to mounting pessism about the global economic picture.
The Dow Jones Industrial Average fell more than 28 points, or 0.23%, to close at 12,542 in a choppy day of action. The blue-chip index has now fallen in four straight sessions and in six of the past seven days.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV