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Wall Street trades lower on European concerns

By FXstreet.com,  April 18, 2012, 11:35:00 AM EDT

FXstreet.com (San Francisco) - The American Stock markets are trading lower Wednesday on concerns about European debt crisis and earning posted late Tuesday. Yahoo and Amazon topped expectations but Intel Corp and IBM posted lower earnings than expected. After opening, stocks recover some ground but Wall Street remains in red numbers.

Dow Jones is declining 0.53% to the 13,046.14 level. S&P 500 is dropping 0.42% to the 1,384.9 while Nasdaq retreats 0.45% to the 3,028.80 zone.

Market pressure over Spain has returned today after Tuesday's better mood. The Bank of Spain has announced an 18-year high in banking bad loans, of 8.2% obtained in February. Tomorrow, the Spanish government will be selling 10-year Letras.

European Markets are trading on red too. FTSE 100 slides 0.48% to 5,737.05, EURO STOXX 50 fall 1.52% to 2,331.90 and the CAC 40 is 1.48% below opening index at 3,243.65.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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