US Stocks Keep Sliding On Weak Data, Fed Qualms
By The Associated Press
U.S. stocks are continuing a two-day slide on weak economic data and concern that the Federal Reserve may cut back its bond-buying program.
European stocks were sharply lower after a survey of regional executives showed that business activity slowed in February. Markets were down 2 percent in Germany and France and 3 percent in Italy.
In the U.S., the government said more people applied for unemployment benefits last week. The four-week average rose to the highest in six weeks.The Dow Jones industrial average was down 53 points to 13,874 at midday Thursday. The Standard & Poor's 500 index dropped eight to 1,503. The Nasdaq composite lost 26 to 3,138. Wal-Mart Stores rose after beating analysts' profit expectations in the fourth quarter.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts