Findcate

NEW YORK, Feb. 15 (Xinhua) — Wall Street headed lower Friday, as investors’ concerns rose on the release of gloomy economic data and a lowered forecast from electronics retailer Best Buy.

The Dow Jones fell 34.06 to 12,342.92. Broader stock indicators also moved lower. The Standard %26amp; Poor’s 500 index dipped 4.95 to 1,343.91, and the Nasdaq composite index fell 7.95 to 2,324.59.

The New York Federal Reserve’s Empire State Manufacturing Survey Friday indicated that conditions are deteriorating, with its reading falling nearly 21 points to negative 11.7. It is the first negative reading since May 2005.

Best Buy’s share price fell as the electronics retailer cut its earnings outlook for 2008 and posted softer-than-forecast fourth-quarter revenue.

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