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Stocks tumble, wipe out Dow's '04 gains
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| Parent(s) |
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| Contributor | RP |
| Last Edited | RP Jan 23, 2005 06:20pm |
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| Category | Analysis |
| Media | Newspaper - Baltimore Sun |
| News Date | Saturday, January 22, 2005 06:00:00 AM UTC0:0 |
| Description | U.S. stocks tumbled yesterday, wiping out the last of the Dow Jones industrial average's 2004 gain, as higher oil prices and a drop in consumer confidence overshadowed better-than-expected earnings from General Electric Co. and United Technologies Corp.
Benchmark indexes recorded a third straight week of losses.
The Dow has dropped 3.6 percent this year, after gaining 3.2 percent in 2004. The benchmark fell 1.6 percent this week. Meanwhile, the Nasdaq slid 2.6 percent this week and is down 6.5 percent this year.
The last time those two benchmarks started a year with three weeks of declines was 1982. |
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