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Wednesday, February 28, 2024

US stocks suffer amid global fears

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The Dow Jones industrial average fell 25 points, or 0.2%, to close at 11,179

Stocks in the United States are down sharply following a spate of negative news from Asia, Europe and the US.

North Korea and South Korea exchanged artillery fire early on Tuesday, killing at least two South Korean marines. That came as investors were already concerned that a bailout of Ireland may not be enough to contain Europe’s debt crisis. In the US, sales of previously owned houses dipped 2.2% in October.

According to preliminary calculations, the Dow Jones industrial average fell 142, or 1.3%, to 11,036.

The S&P 500 lost 17, or 1.4%, to 1,180. The Nasdaq composite fell 37, or 1.5%, to 2,495.

Falling shares outpaced rising shares by four to one on the New York Stock Exchange. Volume was 1 billion shares.

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