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October 26, 2016
NEW YORK (AP) — Shaky results from consumer companies dragged the U.S. stock market lower on Tuesday as well-known names like appliance maker Whirlpool and athletic apparel maker Under Armour suffered their worst losses in years.
Third-quarter earnings continued to dominate the market and some of the biggest companies either reported disappointing results or lowered their expectations. Investors wondered if consumers will spend less money on home improvement, clothing and other goods. But companies including Procter & Gamble and Lockheed Martin soared after their reports. Looking for safer options, some investors bought bonds and utility company shares.
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