Markets End the Day Lower

Dow's 12-day winning streak is broken
By Newser Editors and Wire Services
Posted Feb 28, 2017 3:11 PM CST
Markets End the Day Lower
Traders, including Edward Curran, right, work on the floor of the New York Stock Exchange, Thursday, Feb. 23, 2017.   (AP Photo/Richard Drew)

(Newser) – Retailers including Target led the stock market lower, ending a 12-day winning streak for the Dow Jones industrial average, the AP reports. Target slumped 12% Tuesday after releasing a weak profit report and earnings forecast. Industrial stocks and phone companies were among the big decliners. Online brokers fell sharply after Fidelity announced a cut in trading commissions. TD Ameritrade dropped 10.5% and ETrade Financial fell 7.2%. Investors were looking ahead to an evening speech by President Donald Trump to Congress in hopes of gleaning more details on the timing of tax cuts and other policies. The Dow fell 25 points, or 0.1%, to 20,812. The Standard & Poor's 500 index fell 6 points, or 0.3%, to 2,363. The Nasdaq composite lost 36 points, or 0.6%, to 5,825. (Read more Dow Jones stories.)

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