How the Dow Jones industrial average did Wednesday
The Standard & Poor’s fell back from record levels on Wednesday as the bond market continued to rally.
Investors were unimpressed with a second bid by Valeant Pharmaceuticals for Botox maker Allergan, pushing Allergan’s stock lower. Dollar General dropped after analysts at Deutsche Bank cut their forecast for the company’s earnings, saying that it faces tough pricing competition from other retailers including Walmart and Target.
The Dow Jones industrial average fell 42.32 points, or 0.3 percent, to 16,633.18.
The Standard & Poor’s 500 index dropped 2.13 points, or 0.1 percent, to 1,909.78.
The Nasdaq composite index declined 11.99 points, or 0.3 percent, to 4,225.07.
For the week:
The Dow is up 26.91 points, or 0.2 percent.
The S&P 500 index is up 9.25 points, or 0.5 percent.
The Nasdaq is up 39.27 points, or 0.9 percent
For the year:
The Dow is up 56.52 points, or 0.3 percent.
The S&P 500 index is up 61.42 points, or 3.3 percent.
The Nasdaq is up 48.48 points, or 1.2 percent.