Facebook

Twitter

iTunes

RSS

 

« National Gas Averages Unaffected by Violence in Egypt | Main | Samsung Mega Phone Coming to United States »
Monday
Aug192013

Stocks Continue to Sink Lower

iStockphoto/Thinkstock(NEW YORK) -- The markets saw more losses Monday after the worst week of the year for U.S. stocks.
 
The major indices were off to a weak start after some sobering numbers in the retail sector. Technology companies, however, provided some lift, but many investors continued to focus on the rapid rise in bond yields.

Traders also are awaiting any hint of changes in Federal Reserve thinking. Minutes from the Fed's July economic policy meeting are set to be released on Wednesday.

The Dow Jones Industrial Average lost 70.73 points to close at 15,010.74. The Nasdaq Composite closed down 13.69 points at 3,589.09. The S&P 500 was off by 9.77 points to finish at 1,646.06

Both the Dow and the S&P stock indices were at their lowest levels in about a month.

Zillow shares dropped Monday after announcing it's  buying StreetEasy for $50 million to enhance the real estate website's New York City footprint.

Amazon.com was down for about 35 minutes on Monday.  When customers of the online retail giant logged on, they could only read this message:

"Oops! We're very sorry, but we're having trouble doing what you just asked us to do. Please give us another chance -- click the Back button on your browser and try your request again. Or start from the beginning on our homepage."

Thirty-five minutes may not seem very long, but time is money: according to recent figures for the company, Amazon made $127,187 per minute based on its last 12 months of sales.

Copyright 2013 ABC News Radio