Early Rally Fades; Stock Market Down for the Week

By: Associated Press
By: Associated Press

New York, NY (AP) - An early rally faded on the stock market, leaving indexes down 3 percent for the week as worries resurfaced about a breakup of the euro.

The Dow Jones industrial average closed down 6 points Friday, less than 0.1 percent, at 11,863.

The Dow had been up as many as 99 points after the Italian government won a confidence vote on austerity measures. It turned mixed after Fitch warned that it might downgrade the debt of six euro countries.

The Standard & Poor's 500 rose 4, or 0.3 percent, to 1,220. The Nasdaq rose 14, or 0.6 percent, to 2,555. The Dow is down 2.6 percent for the week.

About three stocks rose for every two that fell on the New York Stock Exchange. Volume was average at 4.7 billion shares.

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