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Stocks continue to spiral down for a fifth day

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Posted: Apr 10, 2012 11:05 AM
Source: Associated Press

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Topics: stock, wall street, money, economy

NEW YORK- Stocks are sliding on disappointing news about the U.S. economy, extending a losing streak that could turn into the year's longest so far.

The Dow Jones industrial average is down 88 points to 12,842 at midday. The broader Standard & Poor's 500 is down 10 points to 1,372. The Nasdaq is down 19 points to 3,028.

The National Federation of Independent Businesses said its index of small-business optimism fell after six months of gains. U.S. wholesalers reported that they restocked shelves at a slower pace at the beginning of the year.

If the market closes down again Tuesday it will be the fifth day of losses for the Dow and S&P, the longest streak of the year so far.

Best Buy fell 2 percent after its CEO resigned.

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