CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

U.S. stocks slide on worries over Europe

05-20-2010 10:32 BJT

NEW YORK, May 19 (Xinhua) -- U.S. stocks slid on Wednesday as concerns about euro zone economies continued to weigh on the market. All three major indexes ended more than 0.5 percent lower.

Investors have been focusing on situation in Europe, and the extent of worry is clear as even a rising euro failed to boost the market on Wednesday.

Germany announced late Tuesday that it would ban naked short- selling in the country's ten leading financial institutions. The ban, which took effect Wednesday and will last until March 31, 2011, would also apply to naked short-selling of credit-default swaps and euro-zone government bonds.

Germany enacted the ban in an effort to try to prevent its markets from falling sharply in response to concerns about Europe' s debt problems, but global stock markets seemed to be rattled by the strict measures as investors doubted the real situation might be worse than expected in Europe. Even a rising euro failed to boost market on Wednesday.

Adding to the negative tone, the Mortgage Bankers Association said on Wednesday that the number of homeowners who missed at least one payment on their mortgage rose to a record in the first quarter, a sign that foreclosure could continue to rise.

The Dow Jones industrial average plunged 66.58, or 0.63 percent, to 10,444.37. The Standard & Poor's 500 index fell 5.75, or 0.51 percent, to 1,115.05 and the Nasdaq plummeted 18.89, or 0.82 percent, to 2,298.37.

Editor:Zhang Ning |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program