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|I:DJI||DOW JONES AVERAGES||25628.9||-623.34||-2.37%|
|I:COMP||NASDAQ COMPOSITE INDEX||7751.765644||-239.62||-3.00%|
Railroad operator CSX stock tumbled after it posted lower-than-expected quarterly profit and cut its full-year revenue forecast, reflecting worries about prospects for economic growth amid simmering trade tensions.
That pulled down other railroad companies, including Union Pacific and Norfolk Southern.
Oil prices fell, which hit shares of producers like Exxon Mobil and Chevron.
Bank of America posted mixed results, with profits coming in higher than Wall Street and revenue falling below expectations.
|UNP||UNION PACIFIC CORPORATION||159.98||-6.09||-3.67%|
|KSU||KANSAS CITY STHN||119.50||-3.70||-3.00%|
|XOM||EXXON MOBIL CORPORATION||67.49||-2.08||-2.99%|
|BAC||BANK OF AMERICA CORP.||26.47||-0.72||-2.65%|
The yield on the benchmark 10-year Treasury slipped to 2.06 percent. Bond yields and prices move in opposite directions so declining yields indicate strengthening demand for the safety of government debt.
On Wednesday, investors heard from United Airlines executives on the impact of the grounding of Boeing’s Max fleet. Despite canceling thousands of flights over the past several months, the Chicago-based carrier reported a 54 percent rise in profits in the second quarter.