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Stocks Fall for Fourth Consecutive Day

Business News

0  Updated at 3:04 pm, May 16th, 2012 By: ABC Digital
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Hemera/Thinkstock(NEW YORK) — After initially climbing into positive territory upon news from the latest Federal Reserve meeting, stocks fell Wednesday on worries about Europe’s shaky financial situation, particularly in Greece.
 
The Dow closed down 33 points at 12,598. The Nasdaq lost 20 points to close at 2,874, while the S&P gave up just six points, closing at 1,324.
 
The markets continue to be held back by fear that Greece’s political unrest could lead to the nation’s exit from the European Union.
 
Meanwhile, the Federal Reserve has released the minutes of its latest meeting.  Members are ready to do more to stimulate the economy if growth falters, or even if there are more signs that it will. That’s in stark contrast to the Central Bank’s previous meeting, when the Fed initially said no new help was needed.
 
Copyright 2012 ABC News Radio