Wall Street Tumbles Again

This is a Japan news story, published by PBS, that relates primarily to Lululemon Athletica news.

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Stock markets

PBS

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Business

Business & Economics

S&P 500 drops 2 percent amid worries about slower economy, higher inflation

Summary

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80% Informative

The Dow Jones Industrial Average was down 732 points, or 1.7 percent , as of 1:45 p.m. Eastern time .

Lululemon Athletica dropped 15 percent to lead the market lower, even though the seller of athletic apparel reported a stronger profit for the latest quarter than analysts expected.

Two out of three in a survey by the University of Michigan expect unemployment to worsen in the year ahead .

In stock markets abroad, indexes fell sharply in Japan and South Korea as auto makers felt more pressure.

Thailand ’s SET lost 1 percent after a powerful earthquake centered in Myanmar rattled the region.

In the bond market, the yield on the 10-year Treasury tumbled to 4.25 percent from 4.38 percent late Thursday .

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formal

Language

English

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