US stocks fizzle as Wal-Mart falls and China slumps
NEW YORK - U.S. stocks are closing lower after Wal-Mart cut its profit forecast and China's market slumped on renewed concerns about its economy.
The Dow Jones industrial average fell 33 points, or 0.2 percent, to end at 17,511 on Tuesday. The Standard & Poor's 500 index slipped five points, or 0.3 percent, to 2,096, and the Nasdaq composite sank 32 points, or 0.6 percent, to 5,059.
Wal-Mart's stock fell more than 3 percent after the retailer reported lower quarterly earnings and warned that its annual profit will likely fall short of previous estimates.
China's main stock index plunged 6 percent, its largest fall since July 27. The sell-off followed Beijing's efforts to ban major shareholders from selling stocks.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
911 call released in 2010 high-profile murder
Aramis Jackson takes deal, to get life in prison for 2010 slaying
Restore Louisiana discusses how to spend flood aid
Facebook's Mark Zuckerberg had lunch in Baton Rouge; Find out what he...
Sparks fly at town hall meeting with Congressman Garret Graves