May 25, 2013
Global shares tick lower ahead of earnings
US stocks fell today, retreating from last week's rally on the "fiscal cliff" deal in Washington, as companies started to report results for the fourth quarter.
The Dow Jones industrial average dropped 55.44 points, or 0.41 percent, to 13,328.85. The Standard & Poor's 500 Index fell 4.74 points, or 0.32 percent, to 1,457.15. The Nasdaq Composite Index lost 7.01 points, or 0.23 percent, to 3,091.81.
European shares dipped, tracking losses on Wall Street, with a key blue-chip index halted by a major resistance level and investors braced for sluggish corporate results in the upcoming earnings season.
The FTSEurofirst 300 index of top European shares closed 0.1 percent lower at 1,160.20 points, drifting away from a near-two-year high hit on Monday.
Japan's Nikkei fell as investors turned cautious over the index's recent rapid gains and sold shares in exporters as the yen's depreciation paused, while buying in defensive shares supported sentiment.
The Nikkei dropped 0.9 percent to 10,508.06 points, just above its 5-day moving average of 10,502.67.