Dismal report on retail spending hits stock market; Dow down 186
By The Associated Press
Posted 4:45PM on Wednesday, January 14, 2015
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 />
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The price of copper plunged Wednesday, and investors seeking safety piled into bonds.<br />
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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 />
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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 />
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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 />
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Bank stocks fell after JPMorgan Chase reported weaker results.<br />
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The yield on the 10-year Treasury note dropped to 1.84 percent.