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Wall Street was wavering Tuesday, after four days of losses, as persistent concerns over Europe keep investors on edge.
The Dow Jones industrial average moved in and out of positive ground at the open, but was lately down over 80 points.
Also worrying investors was news that the U.S. economy grew at a modest pace in the July-September quarter, lower than first estimated, as businesses cut back more sharply on restocking of shelves.
The ongoing debt crisis in the euro zone, along with worries over how the United States will tackle its ballooning debt, has sparked steep equity losses. The S&P 500-stock index fell almost2 percent while the Dow Jones industrial average turned negative for the year on Monday. Last week, the S&P recorded its worst week in two months.
Technology shares will be in focus a day after Hewlett-Packard gave a modest 2012 profit outlook.
Late Monday, the co-chairs of a special U.S. congressional committee said it had failed to reach a deal on reducing government deficits. There are concerns the stalemate will make it more difficult to pass extensions of stimulative measures like payroll tax cuts, which could hurt the U.S. economy.
While the news was expected, it could further limit market upside. Trading volume is likely to be low this week as global uncertainties and the Thanksgiving holiday prompt investors to sit on the sidelines.
The Associated Press and Reuters contributed to this report.
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I think I've read this article before....deja vu??
More like deja Moo. That is knowing when you have see the same old bullS%!# come around again.
Wow, and this morning they said stocks were set to rise. Funny how that article disappeared.
Why is this surprising? The G-20 countries of the western world have spent like drunk sailors in a whorehouse for the past 60 years. Now there is no more money for more bottles of Ol' Spendaholic so let the hangovers begin.
this is going to take Cuts to spending, increases in revenue,a the people that have ridden on this long spending and borrowing spree to wake up and realize that the larder is empty and austerity is here. it is going to hurt, but the other alternative will be to just do as we always have done until the train hits the wall. Then you have Social Unrest, insurrection, and Mad Max in Real Life. We can get past this, but everybody has to be pulling in the same direction to do it.
I expect the hedge funds will create an environment whereby they manage to come out on top of the bottom. Since the emphasis on shorting the market and derivative speculations the market has become a gangsters paradise. Anyone with even a dime within the grasp of the hedge funds is not thinking very prudently about their investment portfolio.
Wall Street is toxic.
And yet oil still has not come down in price. The speculators are one of the reasons the economy is in the shape it is now. And then you have Wall Street giving money to any politician who will do them a favor. Is it any wonder the government does not serve the people of this country any longer. The OWS is just the beginning of whats coming down the road.
Why do news organizations insist on pushing the "fear" word every time a few speculators decide to move their money around? It's not fear. It's reaction to conditions that they don't see as favorable to their SHORT TERM positions. Please report honestly and accurately, and stop pushing fear onto the American people.
"Wall Street was wavering Tuesday, after four days of losses, as persistent concerns over Europe keep investors on edge."
MSNBC tell the truth... the markets do not trust OBAMA!!!!!!!!!!
The weather to day is cold again with a slight chance of snow showers.
Dive baby,
lets get this over with and find the bottom
Quick, get out, get out, before it's too late. Oh wait a minute...
Has anyone noticed that no one cares that there will be no National Basketball Association season this year.
Gee, stocks tank one day because we're worried about Europe's economy. Next day stocks drop because they're worried about ours...we need to concern ourselves with issues that we can actually do something about. Time to restart investing instead of betting. Real Americans know how to do this; sadly, our politicians and Wall Street sharpies do not.