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Stocks fall on earnings, global concerns

Trader Patrick McKeon works on the floor of

Trader Patrick McKeon works on the floor of the NYSE on Thursday, Jan. 30, 2014. Global stocks fell on Friday Jan. 31, 2014 after a drop in eurozone inflation showed the recovery is still weak there. Credit: AP

The U.S. stock market closed out January on yet another down note.

Friday the Dow fell 149.76 points to 15,698.85. The Standard & Poor's 500 dropped 0.65 percent to 1,782.59, and the Nasdaq composite lost 0.47 percent to 4,103.88.

Concerns about the global economy and U.S. company earnings, as well as turmoil in emerging markets, led the Dow Jones industrial average to its worst January since 2009.

For the month, the Dow slid 5.3 percent, while the Standard & Poor's 500 index fell 3.6 percent and the Nasdaq declined 1.7 percent.

Investors entered the year with some degree of skepticism. The S&P 500 index ended 2013 with a gain of nearly 30 percent, its best year since 1997.

Many investors expected 2014 to be a more muddled and volatile year for the market. Market strategists late last year were looking for the S&P 500 to notch a modest gain of 4 percent to 6 percent.

But many investors were surprised by January's turbulence. With one exception, the Dow had triple-digit moves every trading day in January.

Still, the broader S&P 500 is down just 3.6 percent from its Jan. 15 peak. -- AP

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