Stocks edge lower in midday trading; Dow could be headed for first three-day drop this year

NEW YORK, N.Y. – The stock market is edging lower in midday trading after a big drop the day before.

The Dow Jones industrial average was down 37 points at 14,923 at noon Eastern Daylight Time Thursday, a decrease of 0.3 per cent.

The Dow dropped 217 points the day before. The index of 30 big-name stocks could be headed for its first three-day losing streak this year.

The Standard & Poor’s 500 index was down a point at 1,607, a decrease of 0.1 per cent.

The Nasdaq composite fell four points to 3,396 points, or 0.1 per cent.

L Brands, owner of Victoria’s Secret and Bath and Body Works, fell $1.16, or 2.2 per cent, to $50.50 after reporting sales growth that was below the estimates of financial analysts.