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February 9, 2013
Wednesday, August 22, 2012

Wall Street ends flat after Fed, European shares slip

US stocks recovered from losses to finish flat on Wednesday and Treasury yields fell after Federal Reserve minutes suggested the central bank might ease monetary policy further soon.

The S&P 500 index fell early in the session on weak Japanese exports data and uncertainty surrounding Greece, whose leaders meet with European officials this week aimed at securing more time to push through reforms.

The Dow Jones industrial average ended down 30.82 points, or 0.23 percent, at 13,172.76. The S&P 500 Index finished up 0.32 point, or 0.02 percent, at 1,413.49. The Nasdaq Composite Index closed up 6.41 points, or 0.21 percent, at 3,073.67.

European stocks fell, retreating further from 13-month highs hit earlier this week, as investors awaited details of the European Central Bank's plan to buy Spanish and Italian debt before committing more to equities.

The FTSEurofirst 300 index of top European shares ended 1.2 percent lower at 1,095.88 points in thin trading volume, suffering its first real bout of profit-taking in about a month during which the benchmark rallied more than 8 percent.

In Asia, Nikkei share average fell after a recent rally, pulled down by investors' growing impatience with the European Central Bank to act soon to stem the euro zone's debt crisis. Weak Japanese export data added to the pessimism.

The Nikkei dropped 0.3 percent to 9,131.74, taking the benchmark to below its five-day moving average at 9,143.02 and its 26-week moving average at 9,148.53. The broader Topix index eased 0.3 percent to 762.73.
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Tags:  European shares  Nikkei  


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