Summary Box: Dow, S&P have longest slump since '08

AP News
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Posted: Aug 02, 2011 5:39 PM
Summary Box: Dow, S&P have longest slump since '08

IT'S THE ECONOMY: Even with a deal in place to raise the government's borrowing limit, the bad news on the economy keeps piling up. Consumers cut their spending in June; U.S. manufacturing barely grew last month, and economic growth in the first half of the year was the weakest since the recession ended in 2009.

LONG SLUMP: The Dow Jones industrial average had its eighth straight day of losses, the Standard & Poor's 500 index its seventh. Both are the longest, but not the deepest, losing streaks since October 2008.

INDEXES: The Dow gave up 266 points, or 2.2 percent, to 11,867. The S&P lost 33 points, or 2.6 percent, to 1,254.