Markets start week cold

Posted on Sep 11, 2012 in Business | 0 comments

U.S. stock indexes retreated Monday following mixed to flat market activity in Asia and Europe.

Driving the doldrums: a report from China that imports fell 2.6 percent in August from August 2011. Chinese export growth was a disappointing 2.7 percent in the same period.

By close of trading on Wall Street, the Dow Jones industrial average lost 52.35 points, or 0.39 percent, to 13,254.29. The tech-heavy Nasdaq Composite index shed 32.40 points, or 1.03 percent, to 3,104.02. The Standard and Poor”s 500 gave up 8.84 points, or 0.61 percent, to 1,429.08.

On the New York Stock Exchange, 1,215 stocks advanced and 1,797 declined on a volume of 3 billion shares traded.

The benchmark 10-year treasury rose 5/32 to yield 1.656 percent.

The euro fell to $1.2761 from Friday”s $1.2816. Against the yen, the dollar rose to 78.28 yen from 78.26 yen.

In Tokyo, the Nikkei 255 index rose 0.03 percent, 2.28 points, to 8,869.10.

In London, the FTSE 100 index dropped 0.03 percent, 1.60, to 5,793.20.

Copyright 2012 by United Press International