Dow Falls Over 600 Points As Roller Coaster Continues

Angela Weiss / AFP - Getty Images
Like
Like Love Haha Wow Sad Angry

The Dow Jones Industrial Average closed the day down by just under 450 points Wednesday, after weak manufacturing reports added to the list of grim economic data, including a record decline in monthly retail sales and ugly quarterly earnings from some of the country’s largest banks.

The S&P 500 fell by just over 2 percent and the Nasdaq ended the day down by about 1.5 percent.

The government’s monthly retail sales report showed sales were down a record 8.7 percent for the month of March, with a 50.5 percent decline in clothing sales and a 26.5 percent drop in sales at restaurants and bars. Customers stocking up on essentials pushed up the numbers for food and beverage, with a 25.6 percent increase.

A manufacturing index for New York state sank to a level below even that of the Great Recession, with a reading of -78.2, far below economist forecasts of -32.5.

Read more at nbcnews.com

What Are Your Thoughts?

comments

Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!