FedEx issued a weak profit forecast and downbeat comments about the economy. Financial stocks saw some of the biggest losses after S&P cut its ratings and revised outlooks on big banks.
According to preliminary calculations, the Dow Jones industrial average is down 7 at 8,498. The S&P 500 index is down 1 at 911, and the Nasdaq is up 12 at 1,808.
About three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.3 billion shares.
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