NEW YORK, March 6 (UPI) -- U.S. markets declined Thursday on news from the Mortgage Bankers Association that foreclosure rates had increased.
The mortgage delinquency rate is at its highest level since 1985, the bank association said.
The Dow Jones industrial average spent the day in negative ground, dropping 214.60 points at the close to 12,040.39, down 1.5 percent. The Standard & Poor's 500 index declined 2.20 percent on a loss of 29.35 points to 1,304.35. The Nasdaq composite index fell 2.30 percent to 2,220.50, down 52.31 points.
On the New York Stock Exchange 358 shares advanced and 2,797 declined on 4.205 billion shares traded.
The 10-year U.S. Treasury note gained 22/32 to yield 3.602 percent.
The euro traded at $1.538 Thursday from $1.5265 Wednesday, while the dollar traded at 102.655 yen from 103.957 yen Wednesday.
In Tokyo, the Nikkei average gained 243.36 points Thursday to close at 13,215.42, up 1.8 percent.
In London, the FTSE 100 index dropped 87.10 points to 5,766.40, down 1.49 percent.
