U.S. stock markets fall despite Cyprus bailout
NEW YORK • U.S. stock markets are closing lower, hurt by worries about Europe's economy despite a bailout of Cyprus.
The Dow Jones industrial average fell 64 points, or 0.4 percent, to 14,447 at the close of trading on Monday.
The Standard & Poor's 500 Index fell five points, or 0.3 percent, to 1,551. The Nasdaq slipped nine points, or 0.3 percent, to 3,235.
Optimism about a deal to prevent financial collapse in Cyprus had briefly pushed the Standard & Poor's 500 index to within a half-point of its all-time high in early trading, but stock markets soon turned negative.
By day's end, declining stocks led advancing ones on the New York Stock Exchange, with decliners totaling 1,782 and advancers totaling 1,221.