NEW YORK (AP) - Stocks lost more ground today with the Dow Jones industrial average posting its third straight decline.
The blue chip index finished with a loss of 86 points at 12,216 -- down 151 points on the week. Declining issues on the New York Stock Exchange led gainers 2-1 on volume of 3.5 billion shares. The Nasdaq composite index was down 19 points at the 2,261 level, a gain of three points for the week. More than 1.7 billion shares traded on the tech-heavy exchange. And the S&P 500 dropped ten points, closing at 1,315 -- down 17 points for the week.
The decline came as investors focused on the financial health of the consumer.
Reports showing personal spending at its weakest level in 17 months and a drop in consumer sentiment to its lowest level since 1992 made the market a bit edgy.
And a profit warning from department store chain J.C. Penney prompted the selling of consumer stocks.
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