Major Wall Street indexes dropped Thursday
after reports that JPMorgan Chase's losses in hedge trading on credit
derivatives could be as large as $9 billion.
Fears of a global slowdown were stoked as European Union leaders met in Brussels to approve a bailout for Cyprus and discuss how to aid Spanish banks.
The blue-chip Dow Jones Industrial Average lost 24.75 points, or 0.2 per cent, to 12,602.26 The broader Standard & Poor's 500 Index fell 2.7 points, or 0.2 per cent, to 1,329.15. The technology-heavy Nasdaq Composite Index rose 25.83 points, or 0.9 percent, to 2,849.49.
The US currency rose against the euro to 80.36 euro cents from 80.21 euro cents on Wednesday. The dollar fell against the Japanese currency to 79.46 yen from 79.74 yen.
Most Popular Stories
- Aetna Leaving California's Individual Health Insurance Market
- Honda Says Sorry About the Lack of Electric Fits
- Comcast Takes a Stake in a YouTube Content Provider
- OSH Selling Most of Its Stores to Lowe's
- Calories Count: Starbucks to Post the Numbers on Menu Boards
- Is Stock Balloon Really a Pinata?
- First Person Cured of AIDS Virus Wants to Help Others
- Katy Perry: Learned About Divorce Via Text Message
- Google Wants to Share PRISM Information
- Charitable Giving Sees Encouraging Growth