US Stocks Slide to End the Week Lower
(NEW YORK) -- A bad week for the markets ended with a whimper. After a late sell-off the Dow continued to decline in it's biggest weekly loss in over a year. The Dow Jones Industrial Average closed down 31 points at 15,081.47.
The Nasdaq Composite gave up three points to finish the session at 3,602.78. The S&P 500 stock index ended the day at 1,655.83, down six points.
Despite being up 15 percent in year-to-date figures, according to the Wall Street Journal, the blue chips index is down 3.7 percent since Aug. 2 when it closed at a record high.
Meanwhile, the Labor Department says worker productivity accelerated between April and June to an annual pace of almost one percent. Productivity measures output per hour of work. You're probably getting paid more for that extra effort, though. Labor costs are also up.
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