NEW YORK, N.Y. – Stocks slipped Thursday as a three-day rally ran out of steam. A surge in oil prices also slowed down, and consumer stocks fell after Wal-Mart reported disappointing sales and cut its projections for the year.
The Dow Jones industrial average lost 40.40 points, or 0.3 per cent, to 16,413.43.
The Standard & Poor’s 500 index slipped 8.99 points, or 0.5 per cent, to 1,917.83.
The Nasdaq composite index fell 46.53 points, or 1 per cent, to 4,487.54.
For the week:
The Dow has risen 439.59 points, or 2.8 per cent.
The S&P 500 has added 53.05 points, or 2.8 per cent.
The Nasdaq has picked up 150.02 points, or 3.5 per cent.
For the year:
The Dow is down 1,011.60 points, or 5.8 per cent.
The S&P 500 is down 126.11 points, or 6.2 per cent.
The Nasdaq is down 519.87 points, or 10.4 per cent.