Wednesday, May 13, 2009

U.S. markets slide Wednesday

U.S. markets lost ground Wednesday after the Commerce Department said retail sales dropped 0.4 percent in April after a 1.3 percent decline in March.

By close, the Dow Jones industrial average dropped 184.22 points, or 2.18 percent, to 8,284.89. The Standard & Poor's (NYSE:MHP) 500 fell 2.69 percent, 24.43 points, to 883.92. The Nasdaq composite index dropped 51.73 points, 3.01 percent, to 1,664.19.

On the New York Stock Exchange, 337 stocks advanced and 2,745 declined on a volume of 7.2 billion shares traded.

The benchmark 10-year U.S. Treasury bond rose 18/32 to yield 3.112 percent.

The euro fell to $1.3597, compared to Tuesday's $1.364. Against the Japanese yen, the dollar fell to 95.21 yen, compared to Tuesday's 96.37 yen.

In Tokyo, the Nikkei average rose 0.45 percent, 41.88 points to 9,340.49.

In London, the FTSE index lost 94.17 points, 2.13 percent, to 4,331.37.

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