(NEW YORK) — Worries about crisis in Europe kept U.S. markets in flux Tuesday.
The Dow ended the day up 3.76 points, eking out a positive close at 14,455.82 despite the bad news out of Cyprus. The blue chips index had been down earlier Tuesday by as much as 40 points.
For now, the Cyprus economic crisis appears not to be spilling over its borders, soothing some investor worries. Investors had been concerned about the proposed bailout plan’s potential to unnerve bank depositors in other weak EU countries.
The parliament in Cyprus resoundingly rejected a plan to seize raid depositors’ accounts to pay for a bank bailout. The plan to dip directly into Cypriot bank accounts to find $7.5 billion to fund an international bank account caused an uproar. The government has since amended the plan to shield small savers with less than $26,000 in their accounts.
The Nasdaq Composite Tuesday lost 8.49 points to close at 3,229.10. The S&P 500 gave up 3.76 points, finishing the session at 1,548.34.
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Anastasia Pollock, KSL.com