US stocks slip after discouraging figures on Chinese exports; Chiquita jumps on deal news
3/10/2014NEW YORK -- U.S. stocks are closing slightly lower following disappointing economic news from China and Japan.
The Standard & Poor’s 500 index edged down a point to close at 1,877 today. It had been down 11 points earlier.
The Dow Jones industrial average lost 34 points, or 0.2 percent, to 16,418. The Nasdaq composite fell two points, or less than 0.1 percent, to 4,334.
Investors were discouraged by an 18 percent slump in Chinese exports last month, the latest sign of trouble for the world’s second-largest economy. Japan lowered its estimate for fourth-quarter economic growth.
In the United States, Chiquita Brands jumped 11 percent after announcing it had agreed to combine with an Irish fruit supply company.
Bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.78 percent.