published on May 11, 2017 - 1:34 AM
Written by Associated Press

Stocks are closing broadly lower as a number of retailers drop after reporting disappointing results.

Macy’s plunged 17 percent Thursday after the struggling department store operator reported lower sales as more people shop online.
Snap, the parent company of Snapchat, dropped 21.5 percent after reporting a huge loss.

Some energy companies bucked the downward trend and rose along with the price of crude oil. Exxon Mobil gained 0.9 percent.

The Standard & Poor’s 500 index fell 5 points, or 0.2 percent, to 2,394.

The Dow Jones industrial average lost 23 points, or 0.1 percent, to 20,919. The Nasdaq composite gave up 13 points, or 0.2 percent, to 6,115.

Small-company stocks fell more than the rest of the market. The Russell 200 index dropped 9 points, or 0.7 percent, to 1,390.


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