December 7, 2013
Wall Street closes with falls, shares struggle
Stocks on Wall Street struggled on Tuesday, with benchmark indexes swinging between losses and muted gains to finally turn lower, amid a lack of clarity on US fiscal and monetary policies, while major currencies held in tight ranges.
The Dow Jones industrial average was down 62.68 points, or 0.41 percent, at 15,338.70. The Standard & Poor's 500 Index was down 4.19 points, or 0.25 percent, at 1,697.65. The Nasdaq Composite Index was up 2.97 points, or 0.08 percent, at 3,768.26.
European shares steadied as merger and acquisition activity in the telecoms sector was countered by weak German data and concerns about US fiscal and monetary policy that kept the main index below recent 5-year highs.
That helped the FTSEurofirst 300 hold flat at 1,256.61 points lacking any further momentum to re-test last week's 5-year peak of 1,274.59 after the closely-watched Ifo index showed German business morale improving less than expected last month.Meanwhile, Japan's Nikkei share average edged down in choppy trade after Federal Reserve officials suggested the US central bank could still begin scaling back its monetary stimulus later this year.
The Nikkei dropped 0.1 percent to 14,732.61, moving away from a nine-week high of 14,816.65 hit last Friday. The Topix dropped 0.3 percent to 1,214.87.