How the major stock indexes fared Wednesday

Stocks dropped Wednesday after disappointing reports from Alcoa, the aluminum company, and Chevron. Alcoa cut its demand forecast for the year, mostly because of a slowdown in China. Chevron said slumping oil prices and production would hurt earnings.

The Dow Jones industrial average fell 128.56 points, or 1 percent, to 13,344.97.

The Standard & Poor's 500 index fell 8.92 points, or 0.6 percent, to 1,432.56.

The Nasdaq composite index fell 13.24 points, or 0.4 percent, to 3,051.78.

For the week:

The Dow is down 265.18 points, or 2 percent.

The S&P is down 28.37 points, or 1.9 percent.

The Nasdaq is down 84.41 points, or 2.7 percent.

For the year:

The Dow is up 1,127.41 points, or 9.2 percent.

The S&P is up 174.96 points, or 13.9 percent.

The Nasdaq is up 446.63 points, or 17.1 percent.

Source: http://news.yahoo.com/major-stock-indexes-fared-wednesday-220232768.html

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