S&P 500 Drops to Lowest Level Since April

Concerns about slowing growth in China put investors in a selling mood
By Newser Editors and Wire Services
Posted Dec 14, 2018 3:17 PM CST
S&P 500 Drops to Lowest Level Since April
Trader Timothy Nick works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

Stocks ended the week with a steep loss on Wall Street as the S&P 500 dropped to its lowest level since April, the AP reports. The benchmark index is now down almost 3% for the year. New concerns about slowing growth in China as well as growing disarray surrounding plans for Britain to exit the European Union put investors in a mood to sell Friday. Johnson & Johnson plunged 10% after Reuters reported that the company has known since the 1970s that its talc baby powder sometimes contained asbestos, a charge the company denies. The S&P 500 index fell 50 points, or 1.9%, to 2,599. The Dow Jones Industrial Average lost 496 points, or 2%, to 24,100. The Nasdaq composite skidded 159 points, or 2.3%, to 6,910. (More stock market stories.)

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