U.S. stocks close down on euro worries
BY ASSOCIATED PRESS January 30, 2012 9:18AM
In this Jan. 25, 2012 photo, traders John Santiago, left, and Craig Spector work on the floor of the New York Stock Exchange. World stock markets fell Monday, Jan. 30, 2012, as uncertainty about a tentative deal to resolve Greece's debt crisis weighed on investor sentiment ahead of a summit of European leaders. (AP Photo/Richard Drew)
Updated: January 30, 2012 3:44PM
NEW YORK — Stocks closed slightly lower and yields for ultra-safe U.S. government debt fell to their lowest level this year as investors around the world waited for Greece to nail down a deal to reduce its crushing debt.
Borrowing costs for European countries with the largest debt burdens shot higher Monday. The two-year interest rate for Portugal’s government debt jumped to 21 percent after trading around 14 percent last week.
The Dow Jones industrial average fell seven points to close at 12,654, a drop of 0.1 percent. The S&P 500 index fell three points, or 0.3 percent, to 1,313. The Nasdaq lost five points, or 0.2 percent, to 2,812.
Nearly two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was light at 3.5 billion shares.
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