Google Drops 6.7% as Investors Are Freed to Sell Stock From IPO
Dow Jones Newswires</br></br>NEW YORK -- Stocks marked their poorest session this month, with Wal-Mart Stores, Home Depot, General Motors and J.P. Morgan Chase dragging down the Dow Jones Industrial Average.</br></br>The Dow industrials fell 62.59 points, or 0.59%, to 10487.65; the Nasdaq Composite Index dropped 15.47, or 0.74%, to 2078.62; and the Standard & Poor's 500-stock index fell 8.38, or 0.71%, to 1175.43.</br></br>Economic news was blamed, as the producer price index for finished goods rose 1.7% for October, the biggest increase since January 1990.</br></br>"Traders on the floor probably said, 'Worst PPI in 14 years -- sell,' " said Rob Morgan, investment strategist at Janney Montgomery Scott. "That's because with the number we might be letting a bit of inflation out of the box. I also think Wal-Mart's results played a role in the day's decline."