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Stocks decline ... Oil down ... Department store blues

By The Associated Press | Posted - Aug. 10, 2017 at 3:25 p.m.



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NEW YORK (AP) — Brewing tensions between the U.S. and North Korea put investors in a selling mood again today, dragging U.S. stocks lower for the third day in a row. The latest sell-off was the most severe yet, amounting to the biggest single-day drop for the stock market in nearly three months. Technology companies led the broad slide.

NEW YORK (AP) — The Standard & Poor's 500 index dropped 35.81 points, or 1.5 percent, to 2,438.21. The Dow Jones industrial average slid 204.69 points, or 0.9 percent, to 21,844.01, just shy of its low point for the day. The tech-heavy Nasdaq composite bore the brunt of the sell-off, losing 135.46 points, or 2.1 percent, to 6,216.87.

NEW YORK (AP) — Oil prices closed lower after an early rally faded. Benchmark U.S. crude fell 97 cents, or 2 percent, to $48.59 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, slid 80 cents, or 1.5 percent, to $51.90.

NEW YORK (AP) — It's still a rough time to be a department store. Macy's, Kohl's and Dillard's all say a key sales figure fell again in the latest quarter as customers increasingly shop online, at discount stores and elsewhere. At Macy's the decrease wasn't as bad as Wall Street expected, and Kohl's managed to keep the decline to just 0.4 percent.

NEW YORK (AP) — Blue Apron slumped 17.6 percent after the meal kit seller reported a sequential decline in customers in the second quarter due to a planned reduction in marketing. The trend appeared to overshadow strong quarterly revenue growth in the quarter. The stock fell $1.10 to $5.14.

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The Associated Press

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