Stocks slide, Dow posts fourth straight loss

Investors sold stocks and shifted to safer assets like bonds on Thursday as the Dow Jones industrial average fell more than 200 points and Treasury prices rose.
By ALEX VEIGA, Associated Press Modified: March 13, 2014 at 8:58 pm •  Published: March 14, 2014
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Increasing worries about China’s economy and rising tensions over Ukraine rattled the stock market Thursday.

Investors sold stocks and shifted to safer assets like bonds. The Dow Jones industrial average fell more than 200 points and Treasury prices rose.

It was the worst day for the market in six weeks and the fourth loss in a row for the Dow. The plunge was a sharp contrast to the relatively quiet trading Monday through Wednesday following a record-setting run last week.

“The data out of China has been weak. The retail sector in America seems to be a total disaster. It’s enough, combined with what’s going on in Ukraine, to get people a little bit nervous and sell,” said Ian Winer, director of trading at Wedbush Securities.

The market

The Dow Jones industrial average slid 231.19 points, or 1.4 percent, to 16,108.89. The S&P 500 index fell 21.86 points, or 1.2 percent, to close at 1,846.34. The Nasdaq composite dropped 62.91 points, or 1.5 percent, to 4,260.42.

The last time the market had a bigger decline was Feb. 3, when the Dow sank 326 points, or 2.1 percent.

Thursday’s slide erased the S&P 500 index’s gains for the year and extended the Dow’s year-to-date loss to 2.8 percent. The Nasdaq is still up 2 percent so far this year.

Nine of the 10 sectors in the S&P 500 index fell. The technology sector lost the most. Utilities bucked the trend, rising 0.9 percent.

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