Stocks Retreat After Rally

By Kevin Spak,  Newser Staff
Posted Jan 29, 2009 8:44 AM CST
Traders work on the floor of the New York Stock Exchange Monday, Jan. 26, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks sank at the open today as investors cashed in after yesterday’s rally. The Dow lost 90 points, while the Nasdaq and S&P both dipped 1.4%. The day’s economic data was negative as usual: Continuing jobless claims rose 159,000, orders for durable goods dropped 2.6%, and Ford posted a $5.9 billion fourth-quarter loss.