You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Macy’s to pay $650,000 in shopper-profiling probe
    The retailer Macy’s has agreed to pay $650,000 to settle allegations of racial profiling at its flagship store in Manhattan’s Herald Square.
  • Area joblessness up to 6%
    Metro Fort Wayne unemployment has increased for three consecutive months. Not to worry. It just means more people are seeking work than are being hired.
  • Trailer firmto expand Angola plant
    Rockwell American is investing more than $325,000 over the next four years to expand its Angola sales and distribution facility as it creates up to 16 jobs by 2017, Steuben County officials announced Tuesday.
Advertisement

Dow posts its 4th loss in a row

Market jitters pull stocks down

The Dow Jones industrial average fell more than 200 points Thursday, its biggest decline in six weeks.

The pullback came as investors reacted to discouraging economic reports from China and intensifying tensions in Ukraine.

It was the fourth loss in a row for the Dow. The plunge was a sharp contrast to the relatively quiet trading earlier in the week following a record-setting run last week.

Stocks started the day trading slightly higher following news of a pickup in U.S. retail sales last month, but the gains didn’t last.

“The data out of China has been weak. The retail sector in America seems to be a total disaster. It’s enough, combined with what’s going on in Ukraine, to get people a little bit nervous and sell,” said Ian Winer, director of trading at Wedbush Securities.

The Dow Jones industrial average slid 231.19 points, or 1.4 percent, to 16,108.89. The S&P 500 index fell 21.86 points, or 1.2 percent, to close at 1,846.34. The Nasdaq composite dropped 62.91 points, or 1.5 percent, to 4,260.42.

The last time the market had a bigger decline was Feb. 3, when the Dow sank 326 points, or 2.1 percent.

Thursday’s slide erased the S&P 500 index’s gains for the year and extended the Dow’s year-to-date loss to 2.8 percent. The Nasdaq is still up 2 percent this year.

Stocks that fell outnumbered those that rose by a ratio of more than 2-to-1.

Advertisement