US stocks slide on Europe concerns
December 29th, 2011 - 3:14 am ICT by IANSNew York, Dec 29 (IANS) US stocks continued to decline during mid-day trading Wednesday as European banks deposited record amount of cash in the European Central Bank.
Italy Wednesday successfully sold 9-billion-euro 6-month bonds at 3.251 percent, just half of the 6.4 percent yield last month, which indicated that the country’s borrowing cost has significantly decreased, Xinhua reports.
However, the positive news failed to lift optimism in the stock market as uncertainties still remained in the eurozone.
The European Central Bank said European banks deposited a record of 452 billion euros overnight at the bank, reflecting that the banks were reluctant to purchase European sovereign debt as the central bank had hoped and also lacked mutual trust to lend to one other.
The Dow Jones industrial average lost 15.97 points, or 0.13 percent, to 12,275.38. The Standard & Poor’s 500 was down 4.86 points, or 0.38 percent, to 1,260.50. The Nasdaq Composite Index fell 13.16 points, or 0.50 percent, to 2,612.12.
- US stocks slide on Europe concerns (Lead) - Dec 29, 2011
- US stocks mixed as investors await Greek deal - Feb 18, 2012
- Sensex climbs from two-year low to close 158 points up - Nov 24, 2011
- Late sell-off pulls down Sensex - Aug 24, 2011
- US stocks pull back as European optimism fades - Dec 13, 2011
- US stocks mixed amid euro concerns - Feb 16, 2012
- After rate hike, Sensex continues downtrend (Roundup) - Jul 27, 2011
- US stocks rebound to start week - May 22, 2012
- Sensex slumps 389 points on reform concerns - Dec 08, 2011
- Sensex closes 200 points up as futures expiry nears - Aug 22, 2011
- Sensex falls 59 points as bearish mood prevails (Lead) - May 10, 2012
- Sensex ends 163 points down, retail stocks cheer FDI policy - Nov 25, 2011
- US stocks end higher amid European optimism (Lead) - Jan 13, 2012
- Realty, banking stocks rise, Sensex closes 142 points up (Roundup) - Dec 02, 2010
- Sensex closes flat, midcaps, banking stocks gain (Roundup) - Aug 17, 2010
Tags: bonds, borrowing cost, day trading, dow jones, dow jones industrial, dow jones industrial average, european banks, eurozone, italy, mid day, mutual trust, nasdaq composite index, new york dec, optimism, positive news, s 500, sovereign debt, stock market, uncertainties, xinhua