NATIONAL

Stocks dropped Wednesday, extending investors’ losses for the third straight session and pushing the Dow Jones industrial average below 11,000 for the first time since March 9.

The Dow has lost more than 316 points this week, and the selloff has also wiped out the Nasdaq composite index’s gains for the year and put the Standard & Poor’s 500 index less than 8 points away from its Dec. 31 close.

According to preliminary calculations, the Dow Jones industrial average fell 71.24, or 0.65 percent, to 10,930.90. Broader stock indicators also fell. The Standard & Poor’s 500 index fell 7.70, or 0.61 percent, to 1,256.15, and the Nasdaq composite index fell 10.98, or 0.51 percent, to 2,151.80.

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LOCAL

Northrop Grumman Corp. was rated “neutral” in new coverage by analyst Robert Stallard at Banc of America, with a target price of $70 per share.

Valueclick Inc. was rated “hold” in new coverage by analyst Sameet Sinha at Kaufman Bros, with a price target of $16 per share.

Health Net Inc. was raised to “overweight” from “neutral weight” by analyst David Shove at Prudential Equity Group Inc., with a price target of $52 per share.

DirecTV Group Inc. was downgraded to “underperform/cautious” from “in-line/neutral” by analyst Lale Topcuoglu at Goldman Sachs & Co.