US STOCKS CLOSED LOWER
U.S. stocks closed lower Wednesday as the euro hit a 1-week low on uncertainty over Greece's debt problems.The Dow Jones industrial average tumbled 97 points, or 0.7%, to end at 12,781. The S&P 500 fell 7 points, or 0.5%, to 1,343. The Nasdaq dropped 16 points, or 0.5%, to 2,916.Stocks were mixed earlier in the day, as investors weighed better-than-expected European economic data and China's support for the eurozone against a lack of progress in Greece.The overall shrank for the first time in more than two years in the fourth quarter of 2011, but the 0.3% decline was not as bad as economists expected. The latest figures were helped by a smaller-than-expected drop in German GDP and surprise growth in France -- the eurozone's two largest economies.Meanwhile, a China-Europe summit ended Tuesday with promises of more support from Beijing for debt-straddled Europe."China is firm in supporting the EU side in dealing with the debt problems. We match our words with actions," Chinese Premier Wen Jiabao said.
U.S. stocks closed lower Wednesday as the euro hit a 1-week low on uncertainty over Greece's debt problems.The Dow Jones industrial average tumbled 97 points, or 0.7%, to end at 12,781. The S&P 500 fell 7 points, or 0.5%, to 1,343. The Nasdaq dropped 16 points, or 0.5%, to 2,916.Stocks were mixed earlier in the day, as investors weighed better-than-expected European economic data and China's support for the eurozone against a lack of progress in Greece.The overall shrank for the first time in more than two years in the fourth quarter of 2011, but the 0.3% decline was not as bad as economists expected. The latest figures were helped by a smaller-than-expected drop in German GDP and surprise growth in France -- the eurozone's two largest economies.Meanwhile, a China-Europe summit ended Tuesday with promises of more support from Beijing for debt-straddled Europe."China is firm in supporting the EU side in dealing with the debt problems. We match our words with actions," Chinese Premier Wen Jiabao said.
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