Dow Falls 300 Points, With Stocks Sliding as Banks Kick Off Earnings Season
U.S. stocks fell, putting the S&P 500 on course for its fifth consecutive day of losses, as earnings reports from financial behemoths spotlighted concerns about the economic outlook.
The S&P 500 dropped 1% in early afternoon trading Thursday. The blue-chip Dow Jones Industrial Average lost 1.1%, or roughly 320 points, while the technology-heavy Nasdaq Composite Index shed 0.8%. Major benchmarks fell Wednesday after data showed inflation at a fresh four-decade high.
