U.S. stocks finished lower on Thursday, with disappointing corporate results and a Fed official’s warning on deflation sapping some of the optimism drawn from earnings season and the market’s strong gains in July.
Investors also hesitated to take a decisive stance before the government releases its first take on U.S. second-quarter economic growth on Friday.
“There is a shuffling of positions prior to tomorrow’s [gross domestic product] number, with investors getting positions in line and taking some risk off the table,” Dan Cook, senior market analyst at IG Markets, said of the session’s seesawing trade.
Full story: U.S. stocks drop on economic worries Market Snapshot – MarketWatch