Dow closes lower on new euro worries
By ASSOCIATED PRESS January 11, 2012 9:08AM
In this Jan.10, 2012 photo, trader Douglas Glander, right, works on the floor of the New York Stock Exchange. World stock markets stalled Wednesday, Jan. 11, as worries that Europe's debt crisis was taking hold in its larger economies outweighed signs that the U.S. economy was strengthening. (AP Photo/Richard Drew)
Updated: January 11, 2012 3:28PM
NEW YORK — Stock indexes are ending mixed as Europe edges closer to a recession that would hurt corporate profits in the U.S.
The Dow Jones industrial average dropped 13 points, or 0.1 percent, to close at 12,449.
Germany reported that its economy, the largest in Europe, shrank at the end of last year. The European Union cut its estimate of economic growth to its slowest pace in two years.
The S&P 500 added less than a point to 1,292. The Nasdaq rose 8, or 0.3 percent, to 2,710.
Supervalu, a grocery store operator, plunged after reporting a loss because of high food prices and costs related to a turnaround plan.
Roughly four stocks rose for every three that fell on the New York Stock Exchange. Trading volume was weak at 3.9 billion.
Comments Click here to view or make a comment