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U.S. markets recover from steep losses
NEW YORK, March 9 (UPI) -- U.S. markets shed points Wednesday, a day after a prominent hedge fund manager said he would divest his fund of outside investors in case of a downturn.
Maverick investor Carl Icahn said he did not predict a downturn, but would return about $1.76 billion to investors due to the possibility of a market crisis after a sharp run-up in the past two years.
Wednesday marked the two-year anniversary of the market's most recent trough. On March 9, 2009, the Dow Jones Industrial average closed at 6,547.05 points. The Standard & Poor's 500 closed at 676.53 points two years ago. The Nasdaq composite index on that date closed at 1,268.64.
By close of trading Wednesday, the DJIA lost 1.29 points, 0.01 percent, to 12,213.09. The S&P 500 lost 1.80 points, 0.14 percent, to 1,320.02. The Nasdaq index lost 14.05 or 0.51 percent to 2,751.72.
On the New York Stock Exchange, 1,417 stocks advanced and 1,560 stocks declined on a volume of 4 billion shares traded.
The 10-year treasury note rose 20/32 to yield 3.469 percent.
The dollar was mixed. The euro rose to $1.3904 from Tuesday's $1.3899. Against the yen, the dollar rose to 82.79 yen from Tuesday's 82.69 yen.
In Tokyo, the Nikkei 225 index rose 0.61 percent, 64.31, to 10,589.50.
In London, the FTSE 100 index shed 0.63 percent, 37.46, to 5,937.30.
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