US Stocks Keep Sliding On Weak Data, Fed Qualms

By The Associated Press

Stocks are closing lower on Wall Street for a second day on weak economic data and concern that the Federal Reserve may cut back its bond-buying program.

The government said more people applied for unemployment benefits last week. In Europe, a survey of executives suggested the economy slowed this month.

The Dow Jones industrial average lost 46 points to close at 13,880 Thursday.

The Standard & Poor's 500 fell nine to 1,502. The Nasdaq lost 32 to 3,131.

Wal-Mart rose 1 percent after beating analysts' profit forecasts.

Tesla Motors plunged 9 percent after reporting that its loss grew 10 percent on costs related to its new Model S.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume was 4.2 billion shares, heavier than usual.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Opinion

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

Wednesday Wrap-Up: GE and Facebook

Wednesday Wrap-Up: GE and Facebook

PayPal Strikes Again, Facebook, and AT&T -- 3 Tech Stories You Must Know

PayPal Strikes Again, Facebook, and AT&T -- 3 Tech Stories You Must Know

How to Invest Like Warren Buffett

How to Invest Like Warren Buffett

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites