August 22, 2014
Wall St ends lower; S&P 500 extends losses for 3rd day
US stocks extended recent losses today, with the S&P 500 falling for a third straight session as concern grew about the Federal Reserve's plans for withdrawing stimulus.
The losses, which picked up late in the session after the S&P 500 briefly traded in positive territory, followed a steep selloff late last week tied to emerging market concerns. The slide gave the S&P 500 its worst weekly percentage loss since June 2012.
Limiting losses in the Dow and S&P 500, however, was Caterpillar. The stock jumped 5.9 percent to $91.29 after the maker of mining and construction equipment reported a stronger-than-expected quarterly profit.
The Dow Jones industrial average fell 41.23 points or 0.26 percent, to end at 15,837.88. For the Dow, Monday marked a fifth session of losses.
The S&P 500 dropped 8.73 points or 0.49 percent, to finish at 1,781.56. The Nasdaq Composite slid 44.56 points or 1.08 percent, to close at 4,083.61.
European shares fell to their lowest level in more than a month, led by drops in major telecoms and energy stocks.
The downward move extended last week's decline, which was triggered by concerns about emerging markets and the pace of growth in China. Weak corporate earnings in Europe have also helped to knock European stock markets off multi-year highs.
The pan-European FTSEurofirst 300 index closed down by 0.8 percent at 1,290.62 points, its lowest level in more than a month. The euro zone's blue-chip Euro STOXX 50 index fell 0.5 percent to 3,014.62 points.