Dow Cracks 26K, but Can't Sustain It

Industrial, tech stocks slump
By Newser Editors and Wire Services
Posted Jan 16, 2018 4:13 PM CST
Specialist John McNierney works at the post that handles General Electric on the floor of the New York Stock Exchange, Tuesday, Jan. 16, 2018.   (AP Photo/Richard Drew)

(Newser) – Losses by industrial and technology companies pulled stocks lower Tuesday, erasing an early gain that sent the Dow Jones industrial average past 26,000 points for the first time. In the end, the Dow fell 10 points, less than 0.1%, to 25,792, per the AP. The Standard & Poor's 500 index fell 9 points, or 0.4%, to 2,776, and the Nasdaq composite lost 37 points, or 0.5%, to 7,223. Also of note, General Electric slumped 3% after reporting a $6.2 billion write-down. Media company Viacom dropped 7% following reports that it's not in talks to merge with CBS, and Energizer surged 14.5% after saying it will acquire the battery and lighting assets of Spectrum.

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