Markets Tumble After Midday Rally Fades

Markets Tumble After Midday Rally Fades

- in World Biz

The S.&P. 500 lost 4.46 points, or 0.2 percent, to 2,425.55. The Dow Jones industrial average fell 76.22 points, or 0.3 percent, to 21,674.55. The Nasdaq composite shed 5.39 points, or 0.1 percent, to 6,216.53.

The Dow Minute by Minute

Position of the Dow Jones industrial average at 1-minute intervals on Friday.

The athletic gear retailer Foot Locker plunged to its biggest loss in almost nine years. The company said some high-priced sneakers did not sell as well as it hoped. It plans to close at least 135 stores, up from 100. The stock dropped $13.32, or 27.9 percent, to $34.38 in heavy trading.

Hibbett Sports cut its annual forecasts and its stock fell 60 cents, or 5.2 percent, to $10.90. It is down 71 percent this year, and Foot Locker has fallen 52 percent. Companies that make athletic goods also lost ground, and Nike sank $2.51, or 4.4 percent, to $54.95.

Energy companies rose as benchmark United States crude oil jumped $1.42, or 3 percent, to $48.51 a barrel in New York. Brent crude, the international standard, added $1.69, or 3.3 percent, to $52.72 a barrel in London.

Stock indexes in Europe fell further after terrorist violence in Spain. The Ibex in Spain 35 lost 0.6 percent, and the FTSE 100 index in Britain declined 0.9 percent. In France, the CAC 40 fell 0.6 percent, and the DAX in Germany closed down 0.1 percent.

Bond prices finished about where they started. The yield on the 10-year Treasury note remained at 2.19 percent.

Early on, gold rose to its highest price since before the presidential election in November, but it finished down 80 cents at $1,291.60 an ounce. Silver dipped 5 cents to $17 an ounce. Copper remained at $2.94 a pound.

The dollar fell to 109.26 yen from 109.67 yen. The euro rose to $1.1760 from $1.1742.

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