US stocks fall on economic concerns
In this Tuesday, Aug. 13, 2013, photo, traders work on the floor of the New York Stock Exchange. US stocks Wednesday closed lower after anemic inflation data and a disappointing earnings report from Macy’s suggested economic weakness. AP
NEW YORK CITY—US stocks Wednesday closed lower after anemic inflation data and a disappointing earnings report from Macy’s suggested economic weakness.
At the closing bell, the Dow Jones Industrial Average was down 113.51 (0.73 percent) at 15,337.50.
The broad-based S&P 500 fell 8.80 (0.52 percent) to 1,685.36, while the tech-rich Nasdaq Composite Index gave up 15.17 (0.41 percent) at 3,669.27.
Art Hogan, head of product strategy at Lazard Capital Markets, said flat producer prices in July and Macy’s disappointing performance suggested a picture of weaker US economic growth.
