U.S. Stocks Fall on Concern Profit Will Slow More Than Expected

Wednesday July 26 by Claudia bournebloomberg.com
U.S. stocks fell for the third time in four days on concern profit growth will slow more than expected for the rest of the year. ``If we've seen the earnings peak in the first quarter, we've been spoiled, and we're going to see more companies disappointing'' as the year progresses, said Elizabeth Mackay, chief investment strategist at Bear, Stearns & Co. ``That rattles investors.'' The Nasdaq Composite Index fell 82.23, or 2 percent, to 3947.34. The Standard & Poor's 500 Index dropped 10.47, or 0.7 percent, to 1464.00. The Dow Jones Industrial Average declined 33.94, or 0.3 percent, to 10,666.03. Three stocks fell for every two that rose on the New York Stock Exchange.

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