Stocks Continue Their Slide

NEW YORK (February 21, 2013)--Stocks closed lower Thursday on Wall Street for a second day on weak economic data and concern that the Federal Reserve may cut back its bond-buying program.

The government said more people applied for unemployment benefits last week while in Europe, a survey of executives suggested the economy slowed this month.

The Dow Jones industrial average lost 46 points to close at 13,880 Thursday.

The Standard & Poor's 500 fell nine to end the day at 1,502.

The Nasdaq lost 32 to end at 3,131.

Wal-Mart rose 1 percent after beating analysts' profit forecasts.

Tesla Motors plunged 9 percent after reporting that its loss grew 10 percent on costs related to its new Model S.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume was 4.2 billion shares, heavier than usual.


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