U.S. stocks drop on global, corporate concerns
Dow & S&P 500 fall for Day 6, Nasdaq Composite off for fifth session
NEW YORK (MarketWatch) — U.S. stocks on Thursday matched their longest losing streak this year, as investors fretted a dicey global climate, corporate forecasts and insufficient fiscal policy here and in Europe.
“All eyes are on Washington to offer up a credible program soon to be helpful on a number of fronts. And all eyes are on Europe to do basically the same thing locally,” said Jim Russell, chief equity strategist for U.S. Bank Wealth Management.
“The market continues to wrestle with economic data that aren’t strong enough for a sustainable recovery but not weak enough for additional Fed stimulus,” said Timothy McCandless, senior equity analyst at Bel Air Investment Advisors.
After a 112-point drop and brief forays into positive terrain, the Dow Jones Industrial Average (DJI JIA) closed at 12,573.27, off 31.26 points, or 0.3%. http://www.marketwatch.com/story/us-stocks-do...2012-07-12