Debt Worries Europe, U.S. stocks weakened

Wednesday, December 1, 2010 | 7:33 pmWall Street stocks posted losses on Tuesday (11/30/2010) local time (Wednesday morning GMT), amid ongoing concerns over the debt of European countries and the data varied in the United States.
Shares of blue-chip Dow Jones Industrial Average fell 46.47 points (0.42 percent) to close at 11006.02, while the S & P 500 index, a broader measure of the market, fell 7.21 points (0.61 percent) to 1180, 55 points.
Technology-heavy Nasdaq composite index retreated 26.99 points (1.07 percent) to 2498.23, with Google's stock declined 4.5 percent since the news it was being investigated by European regulators and the report is considering to buy online discount Groupon to six billion U.S. dollars .
Decrease Tuesday brings to a close negative for November, with the Dow Jones fell 1.01 percent, the S & P 500 lost 0.23 percent and the Nasdaq lost 0.37 percent.
"Although spared from the worst levels following the better than expected data on U.S. consumer sentiment and Midwest business activity, the shares are under the flatline as fears of worsening of the debt that continues to cripple the euro area sentiment," said analysts at Charles Schwab.
U.S. Dollar continues to rise a few days later against the European common currency, which fell below 1.30 dollars, more pressure on stocks, because a stronger dollar makes exports less attractive.
The European Union and the International Monetary Fund on Monday approved the deal 85 billion euros (113 billion U.S. dollars) for Ireland, but the announcement was quickly overshadowed by concerns where other countries could be next in line.
In the United States, a key survey by research firm the Conference Board showed consumer confidence rose in November to its highest level since June, good news ahead of crucial holiday shopping season.
"Consumer Assessment of economic situation and the current job market, while only slightly better than last month, showed the economy was still growing albeit slowly," said Lynn Franco of the Conference Board.

SOURCE : KOMPAS