Wall Street declines on Greece's debt crisis concerns

08:31, May 06, 2010      

Email | Print | Subscribe | Comments | Forum 

Wall Street fell on Wednesday despite job market showed slow but steady improvement, as investors continued to focus on the sovereign debt problems in Greece and other European countries.

Investors were keeping a close watch on Greece as three people reported to have died during the strike over deep spending cuts and new taxes aimed at staving off economic collapse.

Meanwhile, Moody's Investors Service put Portugal on review for a possible downgrade, saying it could cut Portugal's credit rating two notches in the next three months.

The Downward trend continued on Wednesday even after data showed private sector added more jobs than economists expected.

According to a report by payrolls processor ADP Employer Services, U.S. private employers added 32,000 jobs in April while revision to previous data showed an unexpected jump in March.

The Dow Jones industrial average was down 59.94 points, or 0.55 percent, to 10,866.83. The Standard & Poor's 500 index fell 7.71 points, or 0.66 percent, to 1,165.89. The Nasdaq composite index gave up 21.96 points, or 0.91 percent, at 2,402.29.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based eastday.com reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion