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The Boston Globe

Business

Fast-food chains’ stocks slow down

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The Dow was held back by a slump in McDonald’s stock. The index­ is up 6.7% this year and is just 182 points below its record close of 14,164 in October 2007. McDonald’s lost 1.2% as investors worried Americans will eat out less because­ of higher Social Security taxes. Burger King and Wendy’s also fell. ‘Consumer spending is coming under pressure,’ said Bryan Elliott, at Raymond James. ‘It’s the easiest way to save money, stay at home and cook.’ The government said early Wednesday that spending barely grew last month. Comcast and General Electric rose after GE agreed to sell its NBCUniversal stake to Comcast for about $16.7 billion.

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