Dow drops more than 200 points after disappointing economic news, lower earnings from Wal-Mart

The Associated Press

FILE - In this May 11, 2007 file photo, a Wall Street sign is seen at an entrance to the New York Stock Exchange. Global stock markets were mostly lower Thursday May 15, 2014 ahead of quarterly European growth figures that investors hope will show a strengthening economic recovery. (AP Photo/Richard Drew, file)

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NEW YORK (AP) — The Dow Jones industrial average has dropped more than 200 points after disappointing economic news and a couple bad earnings reports from retailers.

The blue-chip index was down as much as 204 points or 1.2 percent, to 16,409.82 at midday Thursday. The Dow has fallen more than 300 points since the start of trading Wednesday.

The broader Standard & Poor's 500 index slid 23 points, or 1.2 percent, to 1,865. The Nasdaq lost 55 points, or 1.4 percent, to 4,045.

Wal-Mart Stores fell $1.90 to $76.84 after it reported a lower profit in its most recent quarter. Department store operator Kohl's also fell after reporting a drop in earnings.

The yield on the 10-year Treasury note below 2.4 for the first time this year

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