The Dow Jones industrial average fell for a fifth straight day on Thursday after encouraging news on the economy prompted investors to speculate that the Federal Reserve is getting closer to reducing its stimulus program. The number of Americans applying for unemployment benefits dropped to the lowest in nearly six years last week, and the U.S. economy grew at the fastest pace since early 2012.
The Dow Jones industrial average fell 68.28 points, or 0.4 percent, to 15,821.51.
The Standard & Poor’s 500 index dropped 7.78 points, or 0.4 percent, to 1,785.03.
The Nasdaq composite declined 4.84 points, or 0.1 percent, to 4,033.16.
For the week:
The Dow is down 264.90 points, or 1.7 percent.
The S&P 500 is down 20.78 points, or 1.2 percent.
The Nasdaq has lost 26.73 points, or 0.7 percent.
For the year:
The Dow is up 2,717.37 points, or 20.7 percent.
The S&P 500 is up 358.84 points, or 25.2 percent.
The Nasdaq is up 1,013.65 points, or 33.6 percent.