Wall Street falls as Europe offsets US gains
NEW YORK: US stocks fell on Wednesday as warnings about the impact of Europe’s debt crisis on the global economy kept investors cautious, but optimism about the US economy limited losses.
The debt crisis weighed on shares of financials and materials, with the S&P financial index down 0.8 percent.
US economic data showed consumer prices fell in October for the first time in four months. For details, see Another report showed home builders in the United States grew more optimistic this month.
“It’s almost as if it needs bad news from Europe to go down. The news on the U.S economy has looked pretty good, and it even looks like it’s gaining momentum,” said Charles Lieberman, Chief investment officer of Advisers Capital Management, LLC in Hasbrouck Heights, New Jersey. For more visit: Economic times
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