Stocks Fall as Dollar Rises on Jitters Over Europe

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are closing lower thanks to significant
gains in the dollar against other currencies.

The dollar jumped about 1 percent Tuesday as concerns grew that
Ireland will need to ask other European countries for financial
help, as Greece did earlier this year.

The stronger dollar can hurt profits at U.S. companies that do a
lot of business in other countries.

According to preliminary calculations, the Dow Jones industrial
average is down 60, or 0.5 percent, to close at 11,347.

The S&P 500 is down 10, or 0.8 percent, to 1,213, while the
Nasdaq is down 17, or 0.7 percent, to 2,563.

Three stocks fell for every one that rose on the New York Stock
Exchange, where volume was 1.1 billion shares.

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

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