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Dow Slips After US Economic Growth Disappoints

Wall Street
Spencer Platt, Getty Images

Stocks are closing mostly lower on news that the U.S. grew at a slower pace than expected in the fourth quarter.

A slump in the Dow Jones industrial average pushed the index down for the week, the first time that has happened in 2012. The index had risen three weeks in a row and is up 4 percent this year.

The Dow fell 74 points, or 0.6 percent, to 12,660. The S&P 500 fell 2 to 1,316. The Nasdaq composite edged up 11 to 2,817. The U.S. economy grew at a 2.8 percent annual rate in the final three months of last year. Economists had expected 3 percent.

Nearly two stocks fell for every one that rose on the New York Stock Exchange. Volume was light at 3.9 billion shares.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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