U.S. Stocks Fall on European Economic, Debt Worries

By: Associated Press

Posted: Tue 4:16 PM, Aug 16, 2011

New York, NY (AP) - Stocks have closed lower because of rising
worries about Europe.

Economic growth slowed across Europe last quarter, and the
leaders of France and Germany tried to calm concerns about the
region's debt troubles by pushing for long-term political solutions. Markets had hoped for immediate financial fixes like the introduction of a single bond jointly backed by eurozone members.

In the U.S., economic reports are mixed: Housing remains weak,
but factory output rose last month at its fastest pace since an
earthquake in Japan disrupted global manufacturing in March.
Economic worries overshadowed strong U.S. profit reports.

The Dow Jones industrial average is down 76, or 0.7 percent, to
11,406. The S&P 500 is down 11, or 1 percent, to 1,193. The Nasdaq
is down 31, or 1.2 percent, to 2,523.

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