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Stocks Retreat From Latest Record Highs

Dow ends day down 128
By Newser Editors and Wire Services
Posted Jul 25, 2019 3:21 PM CDT
Trader William Lawrence works on the floor of the New York Stock Exchange, Monday, July 22, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks retreated from record highs set a day earlier as large companies delivered weak earnings reports and disappointing forecasts, the AP reports. Technology stocks sustained the steepest declines throughout the day Thursday. PayPal slid 5.1% after cutting its revenue forecast. Facebook dropped 1.9% following the social media company's disclosure that it is being investigated over allegedly anticompetitive behavior. Tesla slumped 13.6% after reporting a loss in its latest quarter that was much larger than analysts were expecting. The S&P 500 index fell 15 points, or 0.5% to 3,003. The Dow Jones Industrial Average lost 128 points, or 0.5%, to 27,141. The Nasdaq fell 82 points, or 1%, to 8,238. (Read more stock market stories.)

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