Dow Jones Industrials Drop 200 Points
The Dow Jones industrial average has dropped more than 200 points Wednesday after disappointing economic news and a couple bad earnings reports from retailers.
The blue-chip index was down as much as 204 points or 1.2 percent, to 16,409.82 at midday Thursday. The Dow has fallen more than 300 points since the start of trading Wednesday.
The broader Standard & Poor’s 500 index slid 23 points, or 1.2 percent, to 1,865. The Nasdaq lost 55 points, or 1.4 percent, to 4,045.
Wal-Mart Stores fell $1.90 to $76.84 after it reported a lower profit in its most recent quarter. Department store operator Kohl’s also fell after reporting a drop in earnings.
The yield on the 10-year Treasury note below 2.4 for the first time this year