May 20, 2013
Wall Street ends lower, European shares climb
US stocks declined on Tuesday as investors sought a catalyst to justify further gains. The S&P 500 suffered its worst day since June, pulled lower by Caterpillar Inc after it cut its profit outlook, the latest high-profile company to warn about profit growth.
The Dow Jones industrial average was down 101.37 points, or 0.75 percent, at 13,457.55. The Standard & Poor's 500 Index was down 15.30 points, or 1.05 percent, at 1,441.59, its fourth day of losses. The Nasdaq Composite Index was down 43.06 points, or 1.36 percent, at 3,117.73.
European shares rose after upbeat US data lifted sentiment as investors searched for signs of sustainable growth in the run-up to the third-quarter earnings season.
The FTSEurofirst 300 was up 4.03 points, or 0.4 percent, at 1,119.79.
In Asia, the Nikkei rose as investors picked up stocks ahead of today’s deadline to qualify for mid-term dividends, but gains were capped on global growth fears, fed by weak German business sentiment and lower earnings forecast by US. industrial bellwether Caterpillar Inc.
The Nikkei added 0.3 percent to 9,091.54, facing resistance at its five-day moving average of 9,118.00. The broader Topix index advanced 0.5 percent to 757.66.