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

New Technology Immerses Audiences At Sundance Film Festival

From flying like a bird to walking through a refugee camp in Syria, virtual reality has enabled journalists, filmmakers and artists to immerse their audience in their stories like never before.
NPR

Sandwich Monday: Girl Scout Cookie Coffeemate

For this week's Sandwich Monday, we try Girl Scout Cookies in a new form. Coffeemate has somehow blended them into nondairy creamer, so you can start your day the disturbing way.
WAMU 88.5

Court Approves McDonnell's Request To Remain Free During Appeal

A federal appeals court is approving former Virginia Gov. Bob McDonnell's request to remain free while he appeals his corruption convictions.
NPR

Just Plane Sad: A Show Of Support For SkyMall

News last week that SkyMall's parent company has filed for bankruptcy protection inspired an outpouring of odes to the kitschy in-flight catalog.

Leave a Comment

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