The New York Times
Wednesday, July 27, 2011 -- 4:08 PM EDT
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S.&P. 500-Stock Index Closes Down 2 Percent
Stocks fell sharply on Wall Street as the impasse over lifting the nation's debt limit wore on in Washington. In addition, economic statistics were disappointing and some companies delivered corporate earnings fell short of expectations.
The broad stock market, as measured by the Standard & Poor's 500-stock index, was down more than 2 percent, while the Dow Jones industrial average of 30 stocks lost nearly 200 points, or about 1.6 percent.
During the trading session, the technology-heavy Nasdaq index fell as low as 3 percent but closed down 2.65 percent.
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