Dow Jones Average Continues a 5 Percent Slide

By: Daniel Wagner, AP Business Writer
By: Daniel Wagner, AP Business Writer

New York, NY (AP) -- May 15, 2012 --

Stocks are closing lower as the Dow Jones industrial average continues a two-week slide that has shaved off nearly five percent of its value.

U.S. stock indexes wavered between modest gains and losses Tuesday as traders weighed encouraging economic reports against European headlines that sent overseas markets reeling.

Sentiment among U.S. builders hit a five-year high, giving homebuilder stocks a strong boost.

But Greek politicians declared an impasse on forming a government there, ensuring another round of destabilizing elections. The euro fell to a four-month low.

The Dow closed down 63 at 12,632. The S&P 500 closed down eight at 1,331. The Nasdaq closed down nine at 2,894.

About two stocks fell for every one that rose on the New York Stock Exchange. Volume was heavy at 4.05 billion shares.


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