Stocks close down again, giving up early gains

Gains fade on Wall Street, giving the Dow Jones industrial average another down day

Associated Press

Stock indexes are closing with slight losses, giving up modest gains from earlier in the day.

The Dow Jones industrial average fell 25 points to close at 13,077 Wednesday, a day after one of its worst drops this year.

The Standard & Poor's 500 index gave up four points to end at 1,409. The Nasdaq composite index fell nine points to 2,982.

The market began to fade after 2 p.m., when the Federal Reserve repeated its assessment that the U.S. economy still needed help to increase growth and lower unemployment.

Netflix plunged 12 percent after slashing its target for full-year subscriber growth.

About four stocks fell for every three that rose on the New York Stock Exchange. Volume was average at 3.4 billion shares.

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