European turmoil leaves US stocks mostly lower

AFP, Wednesday 27 Mar 2013

US stocks mostly fell Wednesday amid renewed anxiety over the eurozone as Cyprus moves to implement the EU-IMF rescue plan.

At the closing bell, the Dow Jones Industrial Average dropped 33.49 points (0.23 percent) to 14,526.16.

The broad-based S&P 500 declined 0.89 (0.06 percent), while the tech-rich Nasdaq Composite Index eked out a gain of 4.04 (0.12 percent) to 3,256.52.

Markets remained preoccupied by Europe, not only because of the Cyprus situation, but because of political instability in Italy, said Art Hogan of Lazard Capital Markets.

"The Italian turmoil is the new concern that we have, and the comments out of Italy don't make people feel we're going to have a solution any time soon," Hogan said.

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