Market Commentary and Intraday News

Stocks slide on Wall Street for sixth straight day

317 days ago

By DANIEL WAGNER
AP Business Writer

U.S. stocks are trading lower at midday as concern spreads that slow global growth and the European debt crisis will drag down U.S. corporate earnings.

Billionaire investment guru Warren Buffett said early Thursday that weak demand is hurting his retail, jewelry, carpet and other businesses. His outlook is dimmer than earlier this year, when Buffett said that all but a handful of his companies were improving.

There were new signals that Europe's debt crisis continues to rage. Spain's borrowing costs rose. Traders also fretted about Chinese economic data due out Friday that might reveal a rapid slowdown.

The Dow Jones industrial average is down 63 at 12,541 as of 11:40 p.m. EDT. The Standard & Poor's 500 index is down 12 at 1,329. The Nasdaq is down 39 at 2,849.

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