Wall Street drops on data, earnings

 Traders work on the floor at the New York Stock Exchange, April 29, 2013. Credit: Reuters/Brendan McDermid


Traders work on the floor at the New York Stock Exchange, April 29, 2013.
Credit: Reuters/Brendan McDermid

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NEW YORK - Stocks fell sharply on Wednesday as the latest economic data continued a trend of indicators pointing to anemic growth, while bellwether companies disappointed on revenue. The Federal Reserve's decision to keep its monetary stimulus in place was not enough to offset investors' anxiety about the data and earnings.

The Dow Jones industrial average .DJI dropped 138.85 points, or 0.94 percent, to end unofficially at 14,700.95. The Standard & Poor's 500 Index .SPX fell 14.88 points, or 0.93 percent, to finish unofficially at 1,582.71. The Nasdaq Composite Index .IXIC slid 29.66 points, or 0.89 percent, to close unofficially at 3,299.13.

(Reuters) | Wed May 1, 2013 4:07pm EDT

(Reporting by Leah Schnurr; Editing by Jan Paschal)

 
 

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