Markets Tumble Again, S&P Down For Fourth Day (SPX, DJI, PFE, JPM, BAC, BBBY, NKE)

Equities slid once again on growing concerns that the economic recovery may be in trouble. Disappointing earnings dragged down consumer-related stocks and Pfizer PFE led the Dow (DJI) down triple digits after saying it would suspend osteoarthritis trials of its pain drug tanezumab. The S&P (SPX) lost 18 points, or 1.68%, to close at 1,073. The blue-chip Dow Index tumbled 145 points, or 1.41%, to close at 10,153. The S&P's four-day losing streak is its longest such streak in seven weeks. JP Morgan JPM dropped 2.2% while Bank of America BAC fell 2.6% as House and Senate lawmakers tried to reach agreement on the final pieces of legislation that is expected to tighten oversight of the financial industry. Consumer-related stocks Bed, Bath & Beyond BBBY and Nike NKE tumbled 5.6% and 4.0%, respectively, after their earnings reports failed to excite investors. Bed, Bath & Beyond issued a weaker-than-expected outlook while Nike warned about increased costs.