US stocks slide following weak wage growth, oil price slump; Dow down 170
By The Associated Press
Posted 4:25PM on Friday 9th January 2015 ( 10 years ago )
NEW YORK (AP) -- Stocks are ending lower after investors were discouraged by weak U.S. wage growth and another drop in the price of oil.<br />
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The loss Friday followed two days of big gains for U.S. stocks.<br />
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The Dow Jones industrial average lost 170 points, or 1 percent, to 17,737.<br />
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The Standard & Poor's 500 index fell 17 points, or 0.8 percent, to 2,044. The Nasdaq composite lost 32 points, or 0.7 percent, to 4,704.<br />
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Retailers also fell. Bed Bath & Beyond slumped 7 percent after its sales missed estimates and Macy's fell 3 percent after saying it would close stores and restructure its marketing operations.<br />
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The price of crude fell again. U.S. benchmark oil lost 43 cents to close at $48.36 a barrel in New York.
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