Dow dips to worst day in 5 weeks; bond prices jump [View all]
Source: AP-Excite
By KEN SWEET
NEW YORK (AP) — Investors retreated from stocks Thursday, leading the Dow Jones industrial average to its worst day in five weeks, after disappointing earnings from Wal-Mart and mixed news about the global economy.
Financial markets reflected broader investor jitters: government bonds rose, small-company stocks continued to plunge, and safe, slower-growth industries fared the best.
The latest economic data from the United States was mixed: Factory output fell. But fewer people sought unemployment benefits, evidence that hat solid hiring should continue. The news was more disappointing in Europe, where the economy of the 18 countries that share the euro saw output rise just 0.2 percent in the first quarter.
"People are just a little bit nervous about the entire global economic environment at the moment," said Ryan Larson, head of U.S. equities at the Royal Bank of Canada.
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FILE - In this May 11, 2007 file photo, a Wall Street sign is seen at an entrance to the New York Stock Exchange. Global stock markets were mostly lower Thursday May 15, 2014 ahead of quarterly European growth figures that investors hope will show a strengthening economic recovery. (AP Photo/Richard Drew, file)
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