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Stocks Close Lower on Wall Street

Dow ends day down 115
By Newser Editors and Wire Services
Posted Jul 17, 2019 3:12 PM CDT
In this July 1, 2019, file photo specialist Michael Gagliano, left, and trader Andrew Silverman work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stock indexes are closing lower for the second day in a row as a sharp drop in railroad operator CSX pulled other industrial companies broadly lower, the AP reports. Banks also fell Wednesday as investors worry that lower interest rates will hurt their profits going forward. CSX plunged 10.3% after cutting its revenue outlook for the year. That pulled other railroad companies lower. Some large technology stocks bucked the downward trend and put up solid gains. Adobe rose 1.4%. The S&P 500 fell 19 points, or 0.7%, to 2,984. The Dow Jones Industrial Average lost 115 points, or 0.4%, to 27,219. The Nasdaq gave up 37, or 0.5%, to 8,185. (Read more stock market stories.)

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