The Dow Jones Industrial Average stumbled back below 10000 on Thursday, an unwelcome milestone as worries about the U.S. economy increase.
The blue-chip index erased early gains to finish down 74.25 points, or 0.74%, at 9985.81. The close is its first finish below the psychologically important level since July 6.
The Dow has toyed with 10000 for the past few days before finally closing below. The key risk now is that the benchmark will plumb the year’s lows reached in July.
One clue to the market’s direction may come on Friday when Federal Reserve Chairman Ben Bernanke speaks at the Fed’s annual huddle in Jackson Hole, Wyo. The last time Mr. Bernanke spoke, his reference to an “unusually uncertain” economic outlook wiped more than 100 points from the Dow.
WATCH: U.S. HOME SALES DIP TO 15 YEAR LOW