Policy: Economy

Stocks move lower on Wall Street, led by banks

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Photo - FILE - This July 15, 2013 file photo shows a sign for Wall Street outside the New York Stock Exchange, in New York. Asian stocks rose Thursday, June 26, 2014, tracing gains on Wall Street, where shares shrugged off a poor quarterly economic report as a blip and instead factored in rebounding growth even as policymakers maintain ultralow interest rates. (AP Photo/Mark Lennihan, File)
FILE - This July 15, 2013 file photo shows a sign for Wall Street outside the New York Stock Exchange, in New York. Asian stocks rose Thursday, June 26, 2014, tracing gains on Wall Street, where shares shrugged off a poor quarterly economic report as a blip and instead factored in rebounding growth even as policymakers maintain ultralow interest rates. (AP Photo/Mark Lennihan, File)
News,Business,Economy

NEW YORK (AP) — Stocks are closing lower on Wall Street, with banks posting some of the biggest declines.

Barclays fell after New York's attorney general sued the British bank, saying it misled large investors by promising to protect them from predatory high-frequency traders. Barclays' U.S.-listed shares fell 7 percent.

Bed Bath & Beyond plunged 7 percent after the company posted earnings and sales that fell short of analysts' estimates.

The Dow Jones industrial average fell 21 points, or 0.1 percent, to close at 16,846 Thursday. It was down as much as 121 points earlier.

The Standard & Poor's 500 index lost two points, or 0.1 percent, to 1,957. The Nasdaq composite slipped less than a point to 4,379.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.53 percent.

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