NEW YORK (AP) — Stocks are falling for the eighth straight day as worries about the economy deepen.
The Institute of Supply Management said its index measuring the service sector of the U.S. economy grew at the slowest pace in 17 months in July. Economists expected a slight increase. The report follows signs that consumer spending, manufacturing and the overall U.S. economy are slowing.
The Dow Jones industrial average fell 166 points in early trading Wednesday but made up more than half of those losses by noon.
At midday, the Dow is down 63 points, or 0.6 percent, to 11,798. The S&P 500 is down 7, or 0.6 percent, to 1,246. The Nasdaq is down 13, or 0.5 percent, to 2,655.
The S&P is on track for its longest losing streak since October 2008.
Copyright 2011 The Associated Press.