Friday March 29th, 2024 5:53AM

Stocks fall in light trade as Toyota cuts outlook

By The Associated Press
NEW YORK - Wall Street has started a holiday-shortened week with a pullback Monday as investors recoiled at bleak news from Toyota and Walgreen.

The Japanese automaker and the drugstore operator provided more evidence that even stronger companies are struggling as consumers cut back their spending.

Toyota Motor Co. warned that it now expects to post an operating loss for the year ending in March, while Walgreen Co. said its profit fell 10 percent in its most recent quarter.

The Dow lost 59 points to 8,519, as a holiday-shortened trading week began.

The S&P was down 16 points to 871.

And the Nasdaq composite fell nearly 32 points to 1,532.

Declining issues outnumbered advancers by a 7 to 3 margin.

Volume on the New York Stock Exchange came to 4.2 billion shares. On the Nasdaq stock market, some 1.6 billion shares changed hands.
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