Dow, S&P 500 Close Lower as Banks Kick Off Earnings Season

[view original post]

The S&P 500 recorded a fifth consecutive down day as earnings reports from financial behemoths spotlighted concerns about the economic outlook.

Stocks fell sharply after Thursday’s open, then gradually recovered. The S&P 500 finished off 11.40 points, or 0.3%, to 3790.38. The Dow Jones Industrial Average lost 142.62 points, or 0.5%, to end at 30630.17. The blue-chip index also notched a five-day losing streak. The technology-heavy Nasdaq Composite Index inched up 3.60 points, or less than 0.1%, to 11251.19. Major benchmarks fell Wednesday after data showed inflation at a four-decade high.