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VOL. 129 | NO. 149 | Friday, August 01, 2014

US Stocks Plunge, Wiping Out July's Gains

AP

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NEW YORK (AP) — U.S. stocks had their worst one-day drop since February as traders worried about weak corporate earnings and the looming end of economic stimulus from the Federal Reserve.

The drop interrupted a prolonged advance in the market and erased its gains for July. It was only the second monthly loss for stocks this year, after January.

The Dow Jones industrial average plunged 317 points, or 1.9 percent, to close at 16,563 Thursday.

The Standard & Poor's 500 index dropped 39 points, or 2 percent, to 1,930. The Nasdaq composite dropped 93 points, or 2.1 percent, to 4,369.

The S&P 500 closed at a record high just one week ago.

Whole Foods Market, Yum Brands and Exxon Mobil were among companies that fell after reporting results or forecasts that disappointed investors.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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