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It's a Down Day for Stocks, Brutal for One Retailer

Urban Outfitters plunges 15.2%
By Newser Editors and Wire Services
Posted Nov 20, 2019 3:19 PM CST
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Traders John Doyle, left, and Ronald Madarasz work on the floor of the New York Stock Exchange, Wednesday, Nov. 20, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing lower on Wall Street as investors worry that the US and China may not reach a trade deal this year, the AP reports. Technology and communications stocks helped pull the market lower Wednesday. Analog Devices, a chipmaker, fell 2.8%. AT&T lost 2.2%. Several retailers made big moves after reporting their latest quarterly results. Urban Outfitters plunged 15.2% after reporting earnings that missed estimates. Target jumped 14.1% after its results beat forecasts. Energy stocks rose as the price of crude oil jumped more than 3%. ConocoPhillips rose 3.8%.

The S&P 500 fell 11 points, or 0.4%, to 3,108. The Dow Jones Industrial Average fell 112 points, or 0.4%, to 27,821. The Nasdaq lost 43 points, or 0.5%, to 8,526. Bond prices rose. The yield on the 10-year Treasury fell to 1.73%.

(Read more stock market stories.)

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