FILE - In this Tuesday, Jan. 14, 2014 file photo, traders gather at a post on the floor of the New York Stock Exchange. World stock markets struggled on Thursday Jan. 16, 2014 as they fought to scrape out more gains a day after a key U.S. benchmark climbed to a new high on strong earnings and economic data. (AP Photo/Richard Drew)
NEW YORK — Retailers and railroads are among the biggest decliners in midday trading as investors react to disappointing earnings from Best Buy and a poor outlook from CSX.
The Dow Jones industrial average fell 69 points, or 0.4 percent, to 16,413 as of noon today.
The Standard & Poor’s 500 was down four points, or 0.3 percent, at 1,843, slightly below its record high close the day before.
The Nasdaq composite was down a point at 4,213.
Best Buy plunged 28 percent after a decline in holiday sales disappointed investors who were expecting growth.
A weak earnings forecast from railroad operator CSX late Wednesday dragged that stock and other railroads lower. CSX dropped 7 percent.