David Carrig
USA Today
May 15, 2014

Stocks closed sharply lower Thursday as disappointing earnings from Wal-Mart and mixed economic data dragged major indexes down for a second straight day.

Credit: Katrina.Tuliao / Wiki
Credit: Katrina.Tuliao / Wiki

The flight from stocks sent bond prices soaring as the yield on the 10-year Treasury note at one point dropped below 2.5% for the first time this year.

The Dow Jones industrial average tumbled 167 points, dropping 1% to 16,446.81. Wal-Mart was the biggest loser of the Dow 30 as the retailer reported a 5% drop in profits in the first quarter and missed analysts’ estimates. Shares of the nation’s largest retailer fell 2.4% to $76.83.

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