US stocks fell on Thursday after anaemic economic data underscored fears about slumping economic growth. An unexpected fall in regional factory activity and a third straight month of decline in producer prices raised concerns about deflation, cooling investors' enthusiasm for the strong start to the earnings season that had lifted stocks off recent lows.
Earnings announced by J.P. Morgan Chase & Co before the market's open also raised concerns about major banks. Although its quarterly profit beat expectations, the company's investment banking arm showed a weak performance, and the stock fell 0.3 percent to $40.25. The Dow Jones industrial average was down 60.69 points, or 0.59 percent, at 10,306.03. The Standard & Poor's 500 Index was down 6.24 points, or 0.57 percent, at 1,088.93. The Nasdaq Composite Index was down 13.26 points, or 0.59 percent, at 2,236.58.
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