NEW YORK, Dec. 15 (UPI) -- Initial euphoria over Saddam Hussein's capture faded on Wall Street Monday, although blue chips remained above the 10,000 mark.
The Dow Jones Industrial Average ended down 19.34, or 0.10 percent, at 10,022.82. The Nasdaq composite index lost 30.74, or 1.58 percent, to 1,918.26 and the Standard and Poor's 500 stock index gave up 6.10, or 0.57 percent, to 1,068.04. New York Stock Exchange volume was 1.42 billion.
While stocks enjoyed a nice morning increase, by afternoon the effects of the news of the capture had diminished.
Barry Ritholtz, of the Maxim Group, told the Wall Street Journal, "With the markets already up so dramatically since the start of the Iraq war, it's fair to say the vast majority of investors have already discounted the likely capture or elimination of Saddam."
Overseas, Tokyo's Nikkei stock average rallied 321.11 points, or 3.2 percent, to close at 10,490.77, posting its second-largest single-day increase this year. London's FTSE-100 share index was up 28.6, or 0.7 percent at 4,376.2.
The dollar traded at 107.64 Monday, down from 107.74 late Friday; meanwhile, the euro rose against the dollar to $1.232 from $1.230 late Friday.
