Stocks derailed Thursday

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NEW YORK, Aug. 2 (UPI) -- U.S. stocks sank Thursday on the second consecutive day of disappointing news from a major central bank.

European Central Bank President Mario Draghi last week sent stocks higher with his remark that the ECB would do "whatever was needed to preserve the euro." In Frankfurt, Germany, Thursday, Draghi said the ECB's Governing Council had elected to keep the key lending rate at 1 percent and stood ready to take other measures in the future.

Policy makers at the U.S. Federal Reserve, although with less implied promise of changes, announced they would stick with their established policies Wednesday, which also disappointed investors.

By close of trading, the Dow Jones industrial average lost 92.18 points, or 0.71 percent, to 12,878.88. The Standard and Poor's 500 index shed 10.14 points, or 0.74 percent, to 1,365. Tech-heavy Nasdaq composite index dropped 10.44 points, 0.36 percent, to 2,909.77.

On the New York Stock Exchange, 1,141 stocks advanced and 1,890 declined on a volume of 4 billion shares traded.

The benchmark 10-year treasury note rose 14/32, sending yields to 1.481 percent.

The euro fell to $1.2182 from Wednesday's $1.2227. Against the yen, the dollar fell to 78.22 yen from 78.44 yen.

In Tokyo, the Nikkei 225 index added 0.13 percent, 11.33, to 8,653.18.

In London, the FTSE 100 index lost 0.88 percent, 50.52, to 5,662.30.