U.S. stock indexes fall in late selling

NEW YORK, Jan. 16 (UPI) -- U.S. stock indexes tumbled Wednesday, spurred downward by a late round of selling as investors waded through information on profits, oil and the economy.

The Dow Jones industrial average fell 34.95 points, or 0.3 percent, to 12,466.16, the index's lowest close since April. The Standard & Poor's 500 Index was off 0.6 percent, or 7.75 points, at 1,373.20. The Nasdaq composite index lost 1 percent, or 23.00 points, to close at 2,394.59.

A U.S. government report showed crude oil inventories were up for the first time in months. Several earnings reports, such as from computer chip maker Intel, reported lackluster fourth-quarter performance. The Federal Reserve in its Beige Book reported modest growth in most regions during the last two months of 2007.

On the New York Stock Exchange, 1,598 stocks gained and 1,569 declined at a listed volume of 5.4 billion shares.

The 10-year U.S. Treasury note was down 14/32, yielding 3.733 percent.

The euro exchanged at $1.4670 from $1.4828 late Tuesday. The dollar traded at 107.17 yen, compared to 106.83 yen late Tuesday

In Tokyo, the Nikkei 225 closed down 468.12 points, or 3.35 percent, at 13,504.51.

Britain's FTSE 100 Index lost 1.1 percent, 60.30 points, to close at 5,957.60.