Dow Falls Again as Industrial Stocks Sink

Ends day down 327
By Newser Editors and Wire Services
Posted Oct 18, 2018 3:12 PM CDT
Shrink
In this Oct. 11, 2018, file photo trader Peter Mazza, left, works with trader Daniel Trimble on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks are closing broadly lower on Wall Street after erasing part of an earlier plunge, the AP reports. Industrial companies sustained some of the biggest losses Thursday after several of them reported dismal results. Aircraft maker Textron dropped 11.3% after reporting results that came in well short of forecasts. Snap-On sank 9.6%. Market favorites like Netflix and Amazon also fell sharply. Netflix fell 4.9% and Amazon pulled back 3.3%. European markets also fell as European leaders criticized Italy's spending plans. The S&P 500 fell 40 points, or 1.4%, to 2,768. The Dow Jones Industrial Average lost 327 points, or 1.3%, to 25,379. The Nasdaq gave up 157 points, or 2.1%, to 7,485. (Read more stock market stories.)

My Take on This Story
Show results without voting  |  
28%
10%
24%
24%
7%
7%