Dow Falls 335 Points; Amazon to Open Retail Store in NYC
The Dow fell a whopping 335 points today, posting its biggest drop since a 354 point slide in June of 2013. The S&P 500 and Nasdaq also fell 2% on the day. All 10 of the S&P 500's industry sectors were down today, with energy stocks being hit particularly hard as crude oil prices continue to fall. Amazon (AMZN) announced today that they are developing plans to open a brick-and-mortar store in NYC just in time for the holidays. Reports state that the store will act as a "mini-warehouse" for product returns, pickups of online orders, and for same-day delivery in NYC.Amazon would also take advantage of this storefront to show off its own tech products, which include several Kindle e-readers, a TV set-top box, and the Amazon Fire Phone.
Word on the Street
- October is living up to its rocky reputation for stocks.
- Pepsi (PEP) beats out Coke (KO) on Wall Street.
- Amazon (AMZN) plans to open brick-and-mortar store.
- Icahn believes Apple's (AAPL) shares are massively undervalued.
- eBay (EBAY) launches its first global brand campaign.
- Ads are coming to Snapchat soon.
- Gap (GPS) stock off on October sales, announces new CEO.
Published on Oct 9, 2014By InvestorGuide Staff