US stocks mixed amid euro uncertaintiesJune 12th, 2012 - 11:40 pm ICT by IANS
New York, June 12 (IANS) US stocks opened mixed Tuesday as investors welcomed the Spanish bank aid package.
However, investors have now turned their attention to Italy’s struggling banking system, fearing it will be the next to need a bailout.
Moreover, rumours spread in the market that rating agency Fitch will cut the entire European Monetary Union, including the members still rated AAA.
Meanwhile, UBS managing director Art Cashin told Xinhua, with the current uncertainty, many investors were back sifting through Federal Reserve Chairman Ben Bernanke’s recent speech, looking for clues to the next Fed move.
The Dow Jones industrial average lost 142.97 points, or 1.14 percent, at 12,411.23. The Standard & Poor’s 500 was up 2.66 points, or 0.20 percent, to 1,311.31. The Nasdaq Composite Index rose 10.75 points, or 0.36 percent, to 2,819.48.
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