Stocks End on Sour Note, Extending Slide to 5 Days
The stock market is closing down sharply, extending its longest and deepest slump this year.
The Dow Jones industrial average lost 213 points to 12,716. That is it’s biggest one-day loss of the year and its third triple-digit decline in the past four trading days.
The broader Standard & Poor’s 500 is down 24 points to 1,359. The Nasdaq is down 56 points to 2,991. The ratio of declining stocks to advancing stocks was about 5-to-1. Volume was heavy at 4.6 billion shares.
Investor fears about Europe’s debt problems were rekindled, as Spain and Italy saw their borrowing costs climb.
(Copyright 2012 by The Associated Press. All Rights Reserved.)