Jan. 29 (Bloomberg) — U.S. stocks extended losses after the Federal Reserve stuck to its plan for a gradual withdrawal of stimulus amid turmoil in emerging markets.
Yahoo slumped 7.4 percent as its sales forecast signaled slowing growth. Boeing Co. retreated 6.2 percent after its 2014 profit forecast trailed analysts' estimates amid a slowing pace of jet orders. Dow Chemical Co. jumped 4.3 percent after stepping up its dividend and share-buyback plan.
The Standard & Poor's 500 Index lost 1 percent to 1,774.94 at 3:04 p.m. in New York. The Dow Jones Industrial Average dropped 181.23 points, or 1.1 percent, to 15,747.33 today. Trading in S&P 500 stocks was 39 percent above the 30-day average during this time of day.
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