NEW YORK, N.Y. – Stocks dropped on Thursday as investors get used to idea that the Federal Reserve may raise interest rates next month. Major indexes fell from the start of trading, following European markets sharply lower, with banks and industrial companies hit the hardest. By the close, Goldman Sachs had dropped 3 per cent and Boeing fell 2 per cent, the biggest declines in the Dow Jones industrial average.
The Dow Jones industrial average fell 91.22 points, or 0.5 per cent, to 17,435.40.
The Standard and Poor’s 500 lost 7.59 points, or 0.4 per cent, to 2,040.04.
The Nasdaq composite gave up 26.59 points, or 0.6 per cent, to 4,712.53.
For the week:
The Dow is down 99.92 points, or 0.6 per cent.
The S&P 500 is down 6.57 points, or 0.3 per cent.
The Nasdaq is down 5.14 points, or 0.1 per cent.
For the year:
The Dow is up 10.37 points, or less than 0.1 per cent.
The S&P 500 is down 3.90 points, or 0.2 per cent.
The Nasdaq is down 294.88 points, or 5.9 per cent.