Wall Street slumps as earnings eyed

Dow closes below 17,000 points as quarterly earnings season kicks off in earnest.

US stocks have fallen for a second day in a row, knocking the Dow industrials below 17,000, as investors turned cautious ahead of the start to corporate earnings season.

At the closing bell, the Dow Jones Industrial Average shed 117.59 points, or 0.7%, to 16,906.62, closing 1% below its all-time high reached before Independence Day.


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