Wall Street Falls on Weak Economic Data
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Wall Street closed with a sharp loss after bleak readings on the economy heightened investors’ fears of a recession.
Investors today were disappointed when the Philadelphia Federal Reserve reported that regional manufacturing fell more than predicted. Another piece of bad news was the Conference Board’s January index of leading economic indicators, which posted its fourth straight drop.
The Dow Jones industrials were down about 143 points at the close at the 12,284 level, according to preliminary calculations.
