Dow Jones Drops 267 Points; Family Dollar Closing 370 Stores

After a solid recovery yesterday, the stocks plummeted today. The Dow Jones dropped more than 250 points and Nasdaq closed down 3.1%. Investors believe that the Nasdaq selloff should be a cause for concern in the near future. Citing falling sales and poor winter weather, Family Dollar (FDO) announced plans to cut jobs, close approximately 370 stores, and cut prices on 1,000 items. The retail chain hopes to save money after their second quarter results did not meet expectations. In response to the backlash from the massive recall, General Motors' (GM) CEO has put two engineers on leave who may have a connection to the faulty ignition switches.
GM's CEO has also asked help from NASA to ensure that the recalled cars can be driven safely.

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Published on Apr 10, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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