June 19, 2013
Global shares dip before German ruling, Fed
Wall Street stocks fell on Monday as investors locked in gains on a recent rally ahead of possible policy action from the Federal Reserve later this week, while weakness in Intel shares weighed on the Nasdaq.
The Dow Jones industrial average fell 52.35 points, or 0.39 percent, to 13,254.29. The Standard & Poor's 500 Index fell 8.84 points, or 0.61 percent, to 1,429.08. The Nasdaq Composite Index slid 32.40 points, or 1.03 percent, to 3,104.02.
European shares edged lower, taking a breather from a strong rally as investors offloaded stocks less exposed to any economic improvement as a result of possible central bank interventions in Europe and the United States.
The pan-European FTSEurofirst 300 index ended 0.3 percent lower at 1,103.55 points while the euro zone blue-chip Euro STOXX 50 index fell 0.4 percent to 2,528.53 points.
In Asia, Japan's Nikkei average closed flat, with losses from exporters hurt by a strong yen cancelling out gains for China-related firms boosted by the country's infrastructure drive. The Nikkei ended down 0.03 percent at 8,869.37. The broader Topix added 0.3 percent to 737.34.