May 23, 2013
Global shares drop on US 'fiscal cliff' uncertainty
US stocks were little changed in a lightly traded session today, with investors limiting bets ahead of what could be a drawn-out battle over the "fiscal cliff."
The Dow Jones industrial average slipped 0.23 point to 12,815.16. The Standard & Poor's 500 Index added 0.15 point, or 0.01 percent, to 1,380.00. The Nasdaq Composite Index was off 0.62 point, or 0.02 percent, to 2,904.25.
European shares ended lower for a fourth straight session, with mounting uncertainties related to a looming US fiscal crisis and the next tranche of aid for Greece hurting investor sentiment.
The index fell 0.3 percent to 2,473.52 points, while the FTSEurofirst 300 index fell 0.3 percent to 1,094.35 on concerns about the US "fiscal cliff" of scheduled spending cuts and tax rises from next year and the Greek situation.
Earlier, Japan's Nikkei stock average fell for a sixth straight day and closed at a four-week low. The Nikkei fell 0.9 percent to 8,676.44, and the broader Topix dropped 1.1 percent to 722.58.