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Published: Wednesday, 10/24/2012

Stocks close down again, giving up early gains

Gains fade on Wall Street, giving the Dow Jones industrial average another down day


NEW YORK -- Stock indexes closed with slight losses today, giving up modest gains from earlier in the day.

The Dow Jones industrial average fell 25 points to close at 13,077 today, a day after one of its worst drops this year.

The Standard & Poor's 500 index gave up four points to end at 1,409. The Nasdaq composite index fell nine points to 2,982.

The market began to fade after 2 p.m., when the Federal Reserve repeated its assessment that the U.S. economy still needed help to increase growth and lower unemployment.

Netflix plunged 12 percent after slashing its target for full-year subscriber growth.

About four stocks fell for every three that rose on the New York Stock Exchange. Volume was average at 3.4 billion shares.

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