Stocks head lower, market headed for a weekly lossMay 24, 2013 @ 8:47 am
NEW YORK (AP) - The stock market is heading lower in midday trading, putting it on track for its first weekly loss in a month.
The Dow Jones industrial average was down 30 points at 15,264 as of noon Eastern Daylight Time Friday, a drop of 0.3 percent.
The Standard & Poor's 500 was down five points at 1,645, a fall of 0.3 percent.
The market is headed for its first weekly loss in five weeks. Anxiety over the Federal Reserve's bond-buying program was the main culprit.
The Nasdaq composite fell 14 points, or 0.4 percent, to 3,445.
Sears plunged 17 percent after the department-store chain reported a steep quarterly loss and slumping sales.
Procter & Gamble surged 4 percent after the household products giant said it's bringing back its former CEO, A.G. Lafley.
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