INQUIRER.net: US stocks drop on Cyprus, weak earnings

INQUIRER.net Philippine News for Filipinos

US stocks drop on Cyprus, weak earnings Mar 21st 2013, 23:45 NEW YORK—US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings.   The Dow Jones Industrial Average lost 90.24 points (0.62 percent) to 14,421.49.   The broad-based S&P 500 dropped 12.91 (0.83 percent) to 1,545.80, while the tech-rich Nasdaq Composite Index gave up 31.59 (0.97 percent) to 3,222.60.   The retreat came after the European Central Bank said it would halt emergency funding to Cyprus' banks unless the country reaches a bailout deal by Monday. The Cyprus crisis has revived concerns about eurozone stability.   Markets were also troubled by a weak earnings repor... Keep on reading: US stocks drop on Cyprus, weak earnings Media files: wall-street.jpg (image/jpeg)

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