Dow Ends Day Down 217
S&P 500, Nasdaq also close lower
By Newser Editors and Wire Services
Posted May 11, 2016 3:16 PM CDT
Jonathan Corpina, right, works with fellow traders on the floor of the New York Stock Exchange, Monday, May 9, 2016.   (AP Photo/Richard Drew)

(Newser) – Stocks closed solidly lower as Macy's led a rout in retail stocks, the AP reports. The department store slashed its profit forecast Wednesday after reporting a steep drop in earnings. Macy's dropped 15% and other retailers also lost ground. Office Depot plunged 40% and Staples lost 18% after a judge blocked their merger. In other company news, Electronic Arts jumped 14% and Blue Buffalo Pet Products rose 8% after beating estimates. The Dow Jones industrial average fell 217 points, or 1.2%, to 17,711. The Standard & Poor's 500 index gave up 19 points, or 1%, to 2,064. The Nasdaq composite index slipped 49 points, or 1%, to 4,760.

 

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