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The Journal Gazette

Wednesday, August 21, 2013 11:48 am

Stocks slip in midday trading ahead of Fed minutes

The Associated Press

More weakness from retailers is sending the stock market lower in midday trading on Wall Street.

Investors were also on edge ahead of the release later Wednesday of minutes from the Federal Reserve's latest policy meeting.

The Dow Jones industrial average was down 61 points, or 0.4 percent, at 14,941 at noon. The Dow has fallen five days in a row, the longest losing streak this year. It hasn't closed below 15,000 since July 3.

The Standard & Poor's 500 index was down six points, or 0.4 percent, at 1,645. The Nasdaq composite was down nine points, or 0.3 percent, at 3,603.

American Eagle Outfitters plunged 9 percent after the teen retailer said it expects a big drop in profit in the current quarter as it deals with tough competition.