All three major indexes are down for the month after tallying losses Thursday. Heavyweights Walmart Stores Inc (WMT) and Cisco (CSCO) weighed on the Dow to bring it down over 260 points points or 1.2%. It's the first day in five that the index fell into the red. Also sagging were the S&P 500 and the Nasdaq, each down 1.4% and 1.8% respectively.
Markets compounded Thursday losses after a van rammed into a crowd in Barcelona. Early reports said at least 12 people were killed and as many as 32 injured. The van reportedly sped into a crowd in the Las Ramblas tourist destination. Two arrests have been made.
The world's largest retailer might have reported second quarter profits that beat analyst estimates, but Walmart stock took a beating anyway Thursday. Shares closed down nearly 2% as earnings declined to 96 cents per share for the Dow component.
And more confusion from activist investor Bill Ackman's quest to install three dissident directors on the board of Automatic Data Processing (ADP) . Ackman argued Thursday that ADP should cut staff, integrate operations and focus on innovation. Investors are confused, though, since many think ADP is doing just fine without Ackman. Shares dropped over 5% making ADP among the S&P laggards Thursday.