Pared losses

Stocks fell Thursday as fears about a global economic slowdown and disappointing corporate results weighed on the market. Investors are concerned that global central banks are unable to stimulate economic activity as growth remains sluggish. Concerns about corporate profits also took a toll on sentiment following weaker-than-expected Q2 reports this week. A drop in weekly claims for unemployment benefits failed to brighten the gloomy mood. The initial euphoria from the recent European summit has faded.