Dow Breaks 5-day Winning Streak

U.S. stocks closed broadly lower on Wednesday, as investors turned cautious amid a selloff of small and high-growth companies. The Dow broke its five-day winning streak and fell101.47. points, or 0.61%, to 16,613.97. The S&P 500 was down 8.9 points, or 0.47%, to 1,888.53. The Nasdaq Composite shed 29.54 points, or 0.72%, to 4,100.63.

Network equipment maker Cisco Systems Inc posted a lower-than-expected 5.5 percent decline in quarterly revenue. Cisco had a net profit of $2.2 billion in the third quarter, down from $2.5 billion in the year-ago quarter. Cisco reported revenue of $11.5 billion, down from $12.2 billion a year earlier.

New York Times Executive Editor Jill Abramson is unexpectedly leaving her post and will be succeeded by Managing Editor Dean Baquet, the Times announced Wednesday.

The prices U.S. companies receive for their goods and services rose by the most in seven months in April, led by more expensive food and higher retail and wholesale profit margins.

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