Stocks Hit by More Eurozone Troubles

Business News

0  Updated at 3:01 pm, October 2nd, 2012 By: ABC Digital
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Hemera/Thinkstock(NEW YORK) — U.S. markets, again, have been struck by more worries from Europe.  Spain Prime Minister Mariano Rajoy said Tuesday that the country’s request for bailout funds from the European Central Bank was not imminent.

The Dow dropped in late trading Tuesday to 13,440, a loss of 75 points. The S&P gave up five points, falling to 1,439. The Nasdaq lost 11 points, closing at 3,103.

Spain’s formal bailout request is essential to setting off the eurozone bond-buying program announced by the ECB to help rescue the region’s financially troubled countries. But Rajoy won’t commit, despite his country’s widespread objection to his recovery measures.

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