NEW YORK (AP) -- Concerns about AOL Time Warner's accounting practices pressured Wall Street Thursday, giving already hesitant investors another reason to avoid making new commitments to the market. Stocks were narrowly lower.
In morning trading, the Dow Jones industrial average fell 3.19 to 8,539.29.
Broader stock indicators also retreated.
AOL Time Warner fell 84 cents to $12.27 on a Washington Post story that questioned its bookkeeping practices. The company denied any wrongdoing. Other published reports suggested that the company's chief operating officer Robert Pittman is on his way out.
Investors were also disheartened by news that a key economic gauge had stalled. The New York-based Conference Board's Index of Leading Economic Indicators held steady in June.
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