Global stocks mixed on downgrade fears
World stocks were mixed on Friday as worries about downgrades of weaker euro zone countries curbed risk appetite, pushing aside an improved outlook on the US economy.
The Dow Jones industrial average closed down 2.42 points, or 0.02 percent, at 11,866.39. The Standard & Poor's 500 Index was up 3.91 points, or 0.32 percent, at 1,219.66. The Nasdaq Composite Index was up 14.32 points, or 0.56 percent, at 2,555.33.
On the week, the Dow fell 2.7 percent; the S&P lost 2.9 percent and the Nasdaq declined 3.5 percent.
European shares ended lower after a choppy session, as multiple equity derivative contract expiries and fears of fresh corporate or sovereign credit rating downgrades over the weekend weighed on sentiment.
The pan-European FTSEurofirst 300 index of top shares closed down 0.5 percent at 956.86 points near its day low of 956.40 having been as high as 968.58.
Japan's Nikkei share average also rose modestly today after signs of strength in the US economy but remained on track for weekly losses, as investors continued to worry about the impact of Europe's debt crisis.
The benchmark Nikkei was down 0.3% at 8,405.73 in afternoon trade, but was on track for a 1.5% loss on the week. The broader Topix index slipped 0.2% to 723.49, capped by selling by European long-term investors.
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