The Ticker

Dow down 334 points, its worst day of 2014

Just one day after the market had its best day of 2014, it had its worst day of 2014.

The Dow Jones industrial average plunged 334 points yesterday as a decline in energy stocks and worries about the global economy sent investors fleeing out of the market. It was the biggest point drop since June 2013.

It was also the third straight day investors have been taken on a wild roller coaster ride. On Tuesday, the Dow fell 272 points, only to jump 275 points on Wednesday.

By the end of the day yesterday, the Dow had lost 334.97 points, or 2 percent, to 16,659.25. The Standard & Poor's 500 index lost 40.68 points, or 2.1 percent, to 1,928.21 and the Nasdaq composite fell 90.25 points, or 2 percent, to 4,378.34.

Worries about the global economy, particularly in Europe and Asia, were again center stage.

Providence Phoenix closing down

The Providence Phoenix, a 36-year-old alternative news and entertainment weekly, is ceasing publication next week.

Stephen Mindich, the Phoenix Media/Communications Group's owner and publisher, announced yesterday the last issue will be distributed Oct. 16.

Chief Operating Officer Everett Finkelstein said shrinking print advertising revenue and increasing production costs led to the decision.

The paper had survived for more than a year after the closing of the Boston Phoenix, the group's flagship publication. According to its website, the publication began as NewPaper and was acquired by the Phoenix in 1988. The group also publishes the Portland Phoenix in Maine.

Developers propose 94 housing units on East Boston property

Two local developers, Michael Merullo and Joseph Ricupero, who own Revere-based EZ Disposal and Recycling, have filed notice with the city to build a 126,000-square-foot mixed use project at 135 Bremen St. in East Boston, which would have 94 residential units, 7,700 square feet of commercial space and 126 parking spots.

Amazon to open first physical store

Online retailer Amazon.com Inc. plans to open its first physical store in midtown Manhattan, the Wall Street Journal reported, citing people familiar with the matter.

The store will be located at 7 West 34th St., across from the Empire State Building, the Journal reported. The store, expected to open in time for holiday shopping, would function as a mini warehouse with limited inventory allowing for same day delivery within New York City, product returns, exchanges and pickup of online orders, according to the report.

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McGladrey LLP, a provider of assurance, tax and consulting services focused on the middle market, with 550 employees in Boston, recently announced the promotion of 39 employees to partner and principal roles. Three of those employees are based in the firm's Boston office: Chris Goguen, principal, Chris Ladue, partner, and Greg Natalucci, partner.

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