Troubles in Europe Continue to Weigh Heavily on US Stocks
(NEW YORK) — Worries about European debt kept the markets down again Wednesday. The Dow was off by as much as 184 points before recovering some of the loss.
The Dow ended Wednesday down 95 points. The Nasdaq lost 12, and the S&P closed down nine points by the end of the day’s trading.
Stocks and commodities pitched down in the U.S. markets on Wednesday, as borrowing rates climbed for Spain and Italy. That’s a sign that investors are losing confidence in those countries’ finances. Many fear Spain, strangled by high unemployment and a real estate collapse, could be the next nation to require financial rescue.
Crude oil, which fell below $100 a barrel last week, is still sliding. Oil traded for around $96 Wednesday.
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