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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles U.S. Markets Slide On Euro Concerns Email Facebook Digg Twitter Buzz Up! ShareThis May 18, 2010 5:14 p.m. EST Topics: market and exchange, economy, business and finance, securities, United States Mitchell Jaworski - AHN News Reporter New York, NY, United States (AHN) - Stocks around the world were pressured Tuesday as the Euro touched a four-year low, extending concerns over Europe’s impact on the global economy. U.S. markets had opened higher following a housing report by the Commerce Department. New housing starts jumped 5.8 percent in April to an annual pace of 672,000. The result easily exceeded economist estimates for a pace of 655,000. The Dow Jones Industrial average opened higher on the news, but fell the duration of the day. The blue-chip index finished 115 points lower or 1.1 percent. 29 of 30 Dow components finished lower on the day with Wal-Mart being the lone advancer. Shares of Wal-Mart (NYSE: WMT) added 1.9 percent on Tuesday after reporting a rise in first quarter earnings. The S&P 500 fell 16 point or 1.4 percent as all 10 major economic sectors finished the session lower. Financials were the biggest laggard, down 2.8 percent. The Nasdaq Composite was hit the hardest, down 37 points or 1.6 percent as tech names were hit hard on Tuesday. Chipmakers were a main laggard with the semiconductor index tumbling nearly 3 percent. Crude oil continued its recent sell-off, down 1 percent on the day to settle at $69.41 a barrel on the New York Mercantile Exchange. On the earnings front, Home Depot said first quarter jumped 41 percent to $725 million or 43 cents a share, up from $514 million or 30 cents a share in the same period a year ago. Wednesday’s market will see the release of the Consumer Price Index (CPI) for April, followed by the latest weekly inventory data on crude oil. Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Most Popular Stories Oldest Pyramid Tomb In America Found In Mexico Chelsea Handler’s Sex Tape Being Shopped Around Malawi Couple Convicted Of Homosexuality Justin Bieber, Selena Gomez Earn BET Award Nominations Marlins' Hanley Ramirez Benched, Lashes Out At Manager Fredi Gonzalez Brad Pitt Calls Ex-Wife Jennifer Aniston “Pathetic” Selena Gomez, Demi Lovato Make "Band Hero" And "Guitar Hero" Debut Miley Cyrus Under Fire For Dirty Dancing With 44-Year-Old Man Aquino, Binay Lead Philippine Election Winners; May Be Proclaimed Within The Day Elin Nordegren Initiates Divorce From Tiger Woods Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2010 AHN All Rights Reserved

Other News on Wednesday, 19 May 2010
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US-ENTERTAINMENT Summary
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