Economy

Aug 30, 2010 6:59 PM

Stocks Drop As Investors Enter Week Cautiously

NEW YORK (AP) - Stocks closed lower as the economy showed more signs of slowing.

A report Monday showed personal income rose less than expected in July, adding to a string of data that points toward a slowdown in growth during the second half of the year.

Bond prices rose as investors moved money into Treasurys.

According to preliminary calculations, the Dow fell 141, or 1.4 percent, to 10,009. The Standard & Poor's 500 index fell 16, or 1.5 percent, to 1,049, while the Nasdaq composite index fell 34, or 1.6 percent, to 2,119.

About four stocks fell for every two that rose on the New York Stock Exchange, where volume was very light at 820 million.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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