NEW YORK (Reuters) - Stocks slid in skittish trading on Thursday after a report showed a steeper-than-expected drop in factory activity in the Mid-Atlantic region for October.
The Philadelphia Federal Reserve Bank said its business activity index slumped unexpectedly to -37.5 in October from 3.8 in September.
The Dow Jones industrial average was down 116.92 points, or 1.36 percent, at 8,460.99. The Standard & Poor's 500 Index was down 14.76 points, or 1.63 percent, at 893.08. The Nasdaq Composite Index was down 14.73 points, or 0.90 percent, at 1,613.60.
(Reporting by Ellis Mnyandu; Editing by Kenneth Barry)
Thursday, October 16, 2008
Market falls after weak Philly Fed report
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