Stocks Continue Fall as Presidential Polls Tighten

The losing streak is at 7 days
By Newser Editors and Wire Services
Posted Nov 2, 2016 3:16 PM CDT
US Stocks Slip, Extending Losing Streak
Specialists Frank Masiello, left, and James Denaro work on the floor of the New York Stock Exchange, Wednesday, Nov. 2, 2016.   (AP Photo/Richard Drew)

(Newser) – The stock market closed moderately lower, extending a losing streak ahead of a contentious US presidential election, the AP reports. Polls showing a tighter race have caused some nervousness on Wall Street, and that funk continued on Wednesday. The Standard & Poor's 500 index, the mostly widely used benchmark for mutual funds, fell for the seventh day straight, its longest losing streak in five years. Several companies fell after posting disappointing results. Frontier Communications slumped 14% after reporting a loss that was wider than analysts were expecting.

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The Dow Jones industrial average fell 77 points, or 0.4%, to 17,959. The Standard & Poor's 500 index lost 13 points, or 0.7%, to 2,107. The Nasdaq composite gave up 48 points, or 0.9%, to close at 5,105. (Read more stock market stories.)

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