Tuesday, August 2, 2011

The Dow loses 265 points

NEW YORK — The Dow Jones industrial average fell for an eighth straight day as investors reacted to more signs of weakness in the U.S. economy and poor earnings from several big companies. The broader stock market is on pace for its longest losing streak in two years. The Dow is below 12,000 and the Standard & Poor's 500 index lost nearly all of its gains for the year by the early afternoon."The market is starting to wonder where the growth is going to come from," said Nick Kalivas, a vice president of financial research at MF Global. "It hasn't hit the panic button yet, but that's where we're drifting."



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