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Dow falls 231 points in sell-off

Associated Press

Investors sold stocks and shifted to bonds Thursday. The Dow Jones industrial average fell more than 200 points and Treasury prices rose.

It was the worst day for the market in six weeks and the fourth loss in a row for the Dow. The plunge was a sharp contrast to the relatively quiet trading Monday through Wednesday following a record-setting run last week.

“The data out of China has been weak. The retail sector in America seems to be a total disaster. It’s enough, combined with what’s going on in Ukraine, to get people a little bit nervous and sell,” said Ian Winer, director of trading at Wedbush Securities.

The Dow Jones industrial average slid 231.19 points, or 1.4 percent, to 16,108.89. The S&P 500 index fell 21.86 points, or 1.2 percent, to close at 1,846.34. The Nasdaq composite dropped 62.91 points, or 1.5 percent, to 4,260.42.

The last time the market had a bigger decline was Feb. 3, when the Dow sank 326 points, or 2.1 percent.

Thursday’s slide erased the S&P 500 index’s gains for the year and extended the Dow’s year-to-date loss to 2.8 percent. The Nasdaq is still up 2 percent so far this year.



 
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