Markets decline after four-day rally
The stock market fell sharply Tuesday after a surprising drop in consumer confidence reminded investors of the fragility of the economic recovery.
Stocks had rallied for four straight days on upbeat earnings news. But while Home Depot Inc., Sears Holdings Corp., Macy's Inc. and Target Corp. all reported better-than-expected earnings Tuesday, the companies indicated that sales growth is lagging.
The Dow Jones industrial average fell 100.97 points, or 1 percent, to 10,292.41. The Standard & Poor's 500 index dropped 13.41, or 1.2 percent, to 1,094.60, while the Nasdaq composite index fell 28.59, or 1.3 percent, to 2,213.44.
About two stocks fell for every one that rose on the New York Stock Exchange; consolidated volume was 4.54 billion shares. - AP
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
Sarra Sounds Off, Ep. 15: LI's top basketball players On the latest episode of "Sarra Sounds Off," Newsday's Gregg Sarra and Matt Lindsay take a look top boys and girls basketball players on Long Island.
