Dow Dives 317 Points, Erasing A Month Of Gains | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Dow Dives 317 Points, Erasing A Month Of Gains

Updated at 4:20 p.m. ET.

The Dow Jones industrial average lost more than 317 points today, closing at 16,563, wiping out the index's gains for the month of July.

The Nasdaq fell 93 points, closing at 4,369. The Standard & Poor's 500 fell 2 percent to 1,930.

It was the worst daily decline since April and the first monthly drop since January.

The Associated Press reports investors "responded to several weak earnings reports, escalating geopolitical instability and widespread views that stocks had become too expensive. They are also contemplating the likely end of the Federal Reserve's stimulus program this year."

USA Today says: "With the losses, a five-month string of Dow and S&P 500 Index gains will end with July's last trading session."

According to Fortune:

"Contributing to the market's retreat: news late Wednesday that Argentina's credit rating has been downgraded to selective default by Standard & Poor's. The country's second default in 13 years sent its Merval stock index plummeting Thursday afternoon.

"There are also lingering questions over how the latest round of sanctions on Russia issued by the U.S. and Europe will affect the global economy, including the energy markets. Exxon Mobil XOM, which has a multi-billion dollar partnership with Russian company Rosneft, saw its stock drop 4% on Thursday."

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

NPR

Not My Job: Brady Bunch's Florence Henderson Gets Quizzed On Weird Science

For decades, Florence Henderson, who presided over the Brady Bunch, was America's perfect Mom. We'll ask Henderson three questions about the Ig Nobels — awarded for real, if ridiculous, research.
NPR

Tracing A Gin-Soaked Trail In London

Around the world, new gin distilleries are popping up like mushrooms after a rain. NPR traces the boom to its historic roots in London, which once had 250 distilleries within the city limits alone.
NPR

Ranting And Throwing Papers: An Angry Candidate Runs For Congress

State Rep. Mike Bost's rants on the Illinois House floor are the stuff viral dreams are made of. Bost says he has good reason to be upset, and wants voters to share his anger.
NPR

Tech Week: Voice Mail Hang-Ups, Apple Pay And Zuckerberg's Chinese

In this week's roundup, Apple rolls out its mobile payment system but confronts a security test in China, the problem with voice mail messages and Mark Zuckerberg shows off his Mandarin.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.