New York stocks fall on growing uncertainty over U.S. economy.
New York stocks fell back Wednesday amid growing uncertainty over the U.S. economy, as well as seemingly little progress in talks to resolve debt problems in Europe.
The 30-issue Dow Jones Industrial Average, which jumped 180.05 points Tuesday, lost 72.43 points, or 0.63 percent, to end at 11,504.62. Te tech-heavy Nasdaq Composite Index, which climbed 42.51 points the previous day, shed 53.39 points, or 2.01 percent, to 2,604.04.
Stocks faced selling after the U.S. Federal Reserve said in its periodic Beige Book report that many of the 12 districts across the country noted weaker or less certain outlooks for business conditions, market analysts said.
Views that European leaders have made little headway toward resolving the eurozone debt crisis also continued weighing down the market, the analysts said.
High-tech issues notably sagged as earnings results released the previous day by U.S. electronics giant Apple Inc. fell short of market expectations, they added.
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|Publication:||Japan Weekly Monitor|
|Date:||Oct 24, 2011|
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