There were weak corporate results, the looming end of stimulus from the Federal Reserve and tensions between the West and Russia. The plunge snapped a string of five straight monthly gains, and pushed the blue-chip index to a slight loss for the year. The stock market fell in early trading after a dose of bad earnings news, and the losses accelerated throughout the day. Yum Brands, the owner of KFC and Pizza Hut, slumped after it said that its earnings would be crimped by a food safety scandal in China that involved repacked meat. Exxon Mobil stock fell $4.31, or 4.2 percent, to $98.94 after the energy company said that oil and gas production slipped 6 percent in the second quarter, disappointing analysts. Paul Zemsky, chief investment officer of Multi-Asset Strategies and Solutions at Voya Investment Management, said the main driver behind Thursday's sell-off was a reassessment of the outlook for interest rates in the U.S. Policy makers are now becoming more optimistic about the outlook for the U.S.
Similar Stories to Dow Plunges As Multiple Worries Vex Investors on Bing News
By STEVE ROTHWELL, AP Business Writer, San Francisco Chronicle: World
Thu, 07/31/2014 - 4:00pm
BING NEWS:
- Markets fall as investors worry about low economic growth and stubborn inflation rates
New York (CNN) — US stocks closed lower Thursday after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected.
04/25/2024 - 2:04 am | View Link - The Dow jumps 200 points but the Nasdaq plunges 300 as markets end the week all over the place
The Dow jumped 211 points, or about 0.5%, to end the day at 37,986. But the Nasdaq dropped 319 points, or 2%. The S&P 500 was also in the red, down 44 points, or about 0.9%. Oil markets that have ...
04/19/2024 - 9:07 am | View Link - Stock market today: Dow plunges 470 points as US stocks tumble on hot inflation report
US stocks dropped on Wednesday as traders took in a hotter-than-expected inflation report and repriced their expectations for Fed rate cuts this year. All three benchmark indexes fell early ...
04/10/2024 - 2:37 am | View Link - More
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