US stocks plunge, wiping out July’s gains

NEW YORK — U.S. stocks had their worst one-day drop since February as traders worried about weak corporate earnings and the looming end of economic stimulus from the Federal Reserve.

The drop interrupted a prolonged advance in the market and erased its gains for July. It was only the second monthly loss for stocks this year, after January.

The Dow Jones industrial average plunged 317 points, or 1.9 percent, to close at 16,563 Thursday.

The Standard &Poor’s 500 index dropped 39 points, or 2 percent, to 1,930. The Nasdaq composite dropped 93 points, or 2.1 percent, to 4,369.

The S&P 500 closed at a record high just one week ago.

Whole Foods Market, Yum Brands and Exxon Mobil were among companies that fell after reporting results or forecasts that disappointed investors.

More in Herald Business Journal

Camano artist mixes flask, paintings for successful cocktail

Art flasks prove popular as bachelorette gifts, birthday presents and wedding favors.

Small retailers aim for emotional ties big chains may lack

“Put yourself into the community more and the money will come back to you.”

A look at what some stores have planned for Black Friday

With unemployment low, stores are hoping customers are in a mood to shop.

Boeing bolsters team for potential 797 with leading engineer

Terry Beezhold has been chief project engineer for the 777X program.

Uber paid off their hackers — they’re far from the only ones

“More and more companies have their own Bitcoin wallets for such cases.”

Airline defendants to pay $95 million in 9/11 settlement

The litigation claimed that security lapses led the planes to be hijacked in the Sept. 11 attacks.

Trump SoHo to shed ‘Trump’ amid reports of sagging business

The president’s company said it would have no comment beyond its news release announcing the move.

Uber reveals cover-up of hack affecting 57M riders, drivers

Uber acknowledges paying the hackers $100,000 to destroy the stolen information a year ago.

Mountlake Terrace-based 1st Security Bank wasn’t traded publicly during the recession, but it has seen a steady growth since the recession. (Jim Davis / HBJ)
How stocks in local banks fared since the recession

Every bank was hit hard during the recession, but most have bounced back in a big way.

Most Read