US stocks slide, extending a weak start to 2014

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Stock trader Gregory Rowe works at the New York Stock Exchange, in New York. (AP Photo/Mark Lennihan, File)

Stock trader Gregory Rowe works at the New York Stock Exchange, in New York. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) — Stocks are lower on Wall Street, continuing a weak start to the New Year.

The Dow Jones industrial average fell 40 points, or 0.3 percent, to 16,429 as of midday Monday.

The Standard & Poor’s 500 index was down five, or 0.3 percent, to 1,826. The Nasdaq composite fell 21 points, or 0.5 percent, to 4,111.

Wendy’s slumped 3 percent after the stock was downgraded by analysts at Janney Capital Markets, who said sales could be weak.

Jos. A. Bank Clothiers rose 4 percent after Men’s Wearhouse said it was making a hostile takeover bid for the company.

Sirius XM Holdings jumped 6 percent following news that Liberty Media wants to acquire full ownership of the satellite radio broadcaster.

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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