Stocks slump on Wall Street, giving the Dow average its first three-day loss this year

NEW YORK, N.Y. – The stock market is ending lower for the third day in a row after an early morning rally faded away.

The Dow Jones industrial average ended with a loss of 126 points, or 0.8 per cent, at 14,995 Wednesday. The Dow had its first three-day loss of the year and its second close below 15,000 in the past month.

The Dow was up as much as 119 points in the first few minutes of trading, then drifted lower throughout the day.

The Standard & Poor’s 500 index fell 13 points, or 0.8 per cent, to 1,612.

The Nasdaq composite fell 36 points, or 1.1 per cent, to 3,400.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume was lighter than average at 3.2 billion shares.