Stocks fall on more evidence of slowing economy

NEW YORK (AP) — The stock market is lower at midday on more evidence of a slowing U.S. economy.

The Dow Jones industrial average is down 57 points to 14,781 as of 11:51 a.m. Eastern time. The Standard & Poor’s 500 index is off six points at 1,591. The Nasdaq has fallen 13 points to 3,315.

U.S. factory activity last month dropped to its slowest pace this year. Companies added the fewest jobs in seven months in April.

Home security company ADT Corp. fell $2.34 to $41.31 after its quarterly profit didn’t live up to analysts’ hopes. That drop helped push down the S&P 500.

Investors are waiting for news from the Federal Reserve, which will publish a statement later Wednesday.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus