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US stocks open lower

United States America,Business/Economy, Mon, 30 Apr 2012 IANS

New York, April 30 (IANS) US stocks opened lower Monday as investors worried about the economic recession in Spain.

 

Spain's GDP contracted by 0.3 percent for the first quarter. Although the market thought that the reading would drop by 0.4 percent, the data still suggested a shrinking economy, putting Spain's economy back in recession, Xinhua reported.

 

The Dow Jones industrial average lost 32.69 points, or 0.25 percent, at 13,195.62. The Standard & Poor's 500 was down 6.86 points, or 0.48 percent, to 1,396.82. The Nasdaq Composite Index dropped 14.28 points, or 0.45 percent, to 3,055.19.

 


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