New York • The stock market sank early Thursday following a disappointing report on Americans' spending last month. Bed Bath & Beyond and banks were among the biggest losers.
KEEPING SCORE: A half hour after the opening bell, Dow Jones industrial average was down 89 points, or 0.5 percent, at 16,779. The Standard & Poor's 500 index sank nine points, or 0.5 percent, to 1,949, while the Nasdaq composite index fell 19 points, or 0.4 percent, to 4,362.
JOBS: The government said that the number of Americans seeking unemployment benefits declined last week, the latest evidence that an economic slowdown earlier this year hasn't caused employers to shed workers. The unemployment rate is 6.3 percent, the lowest level in more than five years.