Stocks seesawed to losses today as investors absorbed bad retailer reports and news that Japan’s economy had entered a recession, MarketWatch reports. The Dow fell 223.73 to close at 8,273.58. The Nasdaq lost 34.80, closing at 1,482.05, while the S&P 500 shed 22.54 to settle at 850.75.
Target and Lowe’s reported big third-quarter profit drops, and Citi announced plans to slash 50,000 jobs. Economic news was conflicted, with borrowing costs rising slightly in the 3-month timeframe but falling for overnight loans. The Federal Reserve reported that overall national manufacturing activity jumped 1.3% in October, but the bump was largely due to just how low activity was in the previous month.