Midday Report: 'Star Wars' Leads Global Box Office; Stocks Slide

Stock losses accelerated by midday Thursday as investors gave back some of the gains scored after the Federal Reserve hiked rates on Wednesday. Wall Street was lower for the first time in five sessions. Disney's (DIS) latest 'Star Wars' installment is already off to a solid start in international markets. The film debuted in 12 countries on Wednesday, generating $14.1 million overall. Pier 1 Imports (PIR) tumbled after issuing a disappointing outlook. The homewares retailer expects to earn no more than 22 cents a share in its fourth quarter, well below analysts' estimates. Pier 1 said it has seen a decline in casual shopping activity.