Dollar Gains Against Euro, Pushing Stocks Lower

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are closing lower as concerns over
Europe's debt crisis pushed the dollar higher. Moody's said
Wednesday that it may cut Spain's debt rating.

Stock prices rose earlier in the day on signs that U.S.
manufacturing is growing and inflation remains under control. The
Senate passed a $858 billion package that will extend tax cuts for
another two years.

According to preliminary calculations, the Dow Jones industrial
average fell 19, or 0.2 percent, to 11,458. The broader S&P 500
fell 6, or 0.5 percent, to 1,235. The Nasdaq composite fell 11, or
0.4 percent, to 2,617.

Two shares fell for every one that rose on the New York Stock
Exchange. Trading volume came to 1.1 billion shares.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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