Stocks Sink on Wall Street

Stocks are closing broadly lower on Wall Street as traders were discouraged by more disappointing news on the global economy and company profits, the AP reports. Technology companies, health care stocks and banks led the way lower on Thursday. Twitter slumped almost 10% after issuing a weak forecast. The declines followed steeper losses in Europe, where the European Union slashed its forecast for economic growth in the 19 countries that use the euro. The S&P 500 fell 25 points, or 0.9%, to 2,706. The Dow Jones Industrial Average lost 220 points, or 0.9%, at 25,169. The Nasdaq dropped 86 points, or 1.2%, to 7,288. Traders sought safety in US government bonds, sending yields lower. The yield on the 10-year Treasury fell to 2.66%. (More stock market stories.)