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Markets End the Day Lower

Dow drops 54
By Newser Editors and Wire Services
Posted Oct 3, 2016 3:16 PM CDT
Markets End the Day Lower
Trader Peter Tuchman works on the floor of the New York Stock Exchange, Friday, June 24, 2016.   (AP Photo/Richard Drew)

(Newser) – Stocks ended lower on Wall Street, by declines in real estate companies and utilities, the AP reports. Federal Realty Investment trust lost almost 4% Monday, one of the biggest declines in the Standard & Poor's 500 index. Merrimack Pharmaceuticals, which develops cancer drugs, slumped 5% after announcing that it would cut almost a quarter of its workforce and would look for a new CEO. Janus Capital surged 12% after announcing it is merging with another investment company. The Dow Jones industrial average fell 54 points, or 0.3%, to 18,253. The S&P 500 index lost 7 points, or 0.3%, to 2,161. The Nasdaq composite declined 11 points, or 0.4%, to 5,300. (Read more Dow Jones stories.)

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