News Column

Dow Drops on Growth Reports

February 3, 2014

The Associated Press

stock market
The Dow was down sharply on midday trading Monday (AP)

NEW YORK (AP) U.S. stocks are falling sharply in midday trading, pushing the Dow Jones industrial average down more than 200 points, as investors react to reports of sluggish growth in the U.S. economy.

The decline adds to losses racked up by the market in January. The Dow was down 183 points, or 1.2 percent, to 15,516 at 11:26 a.m. Eastern time Monday.

The index fell as much as 206 points earlier. The Standard & Poor's 500 index lost 22 points, or 1.2 percent, to 1,760. The Nasdaq slipped 58 points, or 1.4 percent, to 4,046.

A report Monday showed that U.S. manufacturing barely expanded last month.

Construction spending rose modestly in December, slowing from healthy gains earlier. Fresh signs of weakness in China's manufacturing sector added to lingering worries about developing economies.

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Source: Associated Press

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