Wall Street takes Cyprus bailout vote in stride
ASSOCIATED PRESS March 19, 2013 8:18AM
FILE - The Federal Reserve Building is seen in Washington Thursday, Jan. 14, 2010 file photo. Don't expect the Federal Reserve to let up in its drive to keep stimulating the economy with record-low interest rates. Not yet, anyway. That's the view of economists as Fed policymakers hold a two-day meeting that starts Tuesday March 19, 2013. On Wednesday, the Fed will issue a policy statement and update its economic forecasts, and Chairman Ben Bernanke will hold a news conference. (AP Photo/Alex Brandon)
Updated: March 19, 2013 4:12PM
NEW YORK — Wall Street took the latest turn in Europe’s financial drama in stride.
Stocks recovered most of an early loss Tuesday and ended little changed, even after lawmakers in Cyprus rejected the terms of a highly unpopular bailout plan that would have called for raiding the bank accounts of ordinary Cypriots.
The Dow Jones industrial average closed up three points, less than 0.1 percent, at 14,455. It had been down as much as 70 in the afternoon.
Other indexes closed slightly lower. The Standard & Poor’s 500 index lost three points, 0.2 percent, to 1,548. The Nasdaq composite lost eight points, or 0.3 percent, to 3,229.
Three stocks fell for every two that rose on the New York Stock Exchange. Volume was slightly heavier than usual, 3.7 billion shares.