Wall Street falls for 7th session, European shares rebound
US stocks fell for a seventh straight session on Friday, leading global equity markets to their worst week in two months on fear that Europe's debt crisis is dragging on without a credible solution.
The Dow Jones industrial average finished down 25.77 points, or 0.23 percent, at 11,231.78. The Standard & Poor's 500 Index was down 3.12 points, or 0.27 percent, at 1,158.67. The Nasdaq Composite Index lost 18.57 points, or 0.75 percent, at 2,441.51.
Meanwhile, European shares turned higher after EU officials said euro zone member states were discussing dropping private sector involvement from the permanent bailout mechanism, due to come into force in 2013.The discussions are taking place as part of wider negotiations over changing the EU treaty to introduce stricter fiscal, they said.
The FTSEurofirst 300 index of top European shares was up 0.38 percent at 903.41 points.
In Asia, the Nikkei average slipped but ended off lows, rounding out a losing week as statements by German and French officials failed to convince investors that leaders were closer to a consensus on how to contain the euro-zone debt crisis.
The Nikkei ended down 0.1 percent at 8,160.01, after earlier falling to a fresh two-and-a-half-year low of 8,135.79, and lost 2.6 percent for the week.
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