Thursday May 22nd, 2025 7:39AM

Dismal report on retail spending hits stock market; Dow down 186

By The Associated Press
NEW YORK (AP) -- Stocks recovered much of a midday swoon but still ended lower following some discouraging news on the global economy and retail sales in the U.S.<br /> <br /> The price of copper plunged Wednesday, and investors seeking safety piled into bonds.<br /> <br /> The World Bank lowered its forecast for global growth this year. It blamed sluggish economies in Europe and Japan, and a slowdown in China.<br /> <br /> The Dow Jones industrial average lost 186 points, or 1.1 percent, to 17,427. It was down as much as 348 points earlier.<br /> <br /> The Standard & Poor's 500 index fell 11 points, 0.6 percent, to 2,011. The Nasdaq composite fell 22 points, or 0.5 percent, to 4,639.<br /> <br /> Bank stocks fell after JPMorgan Chase reported weaker results.<br /> <br /> The yield on the 10-year Treasury note dropped to 1.84 percent.
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