Stocks fall on disappointing earnings and emerging-markets woes; worst January since 2010
NEW YORK, N.Y. – U.S. stocks are ending sharply lower after disappointing results from online retailer Amazon.com and more trouble in overseas markets.
The declines are capping a tough month for the U.S. stock market, which had its worst January in four years.
The Dow Jones industrial average fell 149.76 points, or 0.9 per cent, to close at 15,698.85 on Friday. The Standard & Poor’s 500 index slipped 11.60 points, or 0.7 per cent, to 1,782.59 The Nasdaq dropped 19.25 points, or 0.5 per cent, to 4,103.88.
Amazon.com fell $44.32, or 11 per cent, to $358.69. Its results fell below what Wall Street was expecting.
Earlier, investors were unnerved by lower-than-expected inflation in the eurozone, which showed the recovery is still weak there.
Currencies for several emerging-market countries also fell against the dollar.
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