New York, Sep 29 (IANS) US stocks ended lower Wednesday, breaking a three-day winning streak, as concerns about the European debt crisis continued to weigh on the market, Xinhua reported.
Major indexes traded higher before the sell-off accelerated in late session and European debt problems dominated sentiment.
Investors were cautiously expecting eurozone policy makers to come up with plans to stem the crisis.
All eyes were on Germany as the German parliament is set to hold a crucial vote on a controversial package of measures to boost the eurozone rescue fund.
German Chancellor Angela Merkel said Wednesday that Germany will do ‘what it can’ to help Greece regain market confidence.
On the economic front, the US Commerce Department said durable goods orders fell slightly by 0.1 percent to $201.8 billion, an indication that business activities were still weak.
The Dow Jones industrial average dropped 179.79 points, or 1.61 percent, to 11,010.90. The Standard & Poor’s 500 fell 24.32 points, or 2.07 percent, to 1,151.06. The Nasdaq Composite Index tumbled 55.25 points, or 2.17 percent, to 2,491.58.
