Loading…
Saturday, April 19, 2014
Current Weather
Loading Current Weather....
Published: 9/23/2013

Stock market drops on economy, budget worries; Citigroup slumps on earnings concerns

ASSOCIATED PRESS

NEW YORK -- Stocks closed lower today on concerns about the strength of the economy and the potential for a budget fight in Washington.

The Dow Jones industrial average fell 49 points to close at 15,401 today, logging its third straight day of declines. The Standard & Poor’s 500 index fell eight points to close at 1,701.

Both indexes have given up all the gains that followed the Federal Reserve’s surprise decision last Wednesday to keep its economic stimulus program intact.

Financial stocks led the declines today. Citigroup dropped $1.64, or 3 percent, to $49.57 after reports that it suffered a drop in trading revenues that could crimp earnings.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories