New York, Dec 1 (DPA) Continuing fears about fiscal instability among European Union governments overshadowed a favourable report on US consumer confidence as major Wall Street stock indices lost ground.
The New York-based Conference Board’s index of consumer confidence reached a five-month high. But continuing worries about budget deficits in several EU countries weighed on the market.
The blue-chip Dow Jones Industrial Average slipped 46.47 points, or 0.42 percent, to 11,006.02. The broader Standard and Poor’s 500 index lost 7.21 points, or 0.61 percent, to 1,180.55. The technology-heavy Nasdaq Composite Index fell 26.99 points, or 1.07 percent, to 2,498.23.
The US currency rose against the euro to 77.01 euro cents from 76.24 euro cents on Monday. The dollar slid against the Japanese currency to 83.66 yen from 84.27 yen.
