Wednesday's market gains slip away

NEW YORK, Feb. 15 (UPI) -- U.S. markets lost a grip on early gains Wednesday after Eurostat said the eurozone's gross domestic product shrank in the fourth quarter of 2011.

The gross domestic product for the eurozone as a region -- countries that use the euro as currency -- fell for the first time since the April through June stretch in 2009, when the eurozone economy shrank by 0.2 percent.

Compared to the third quarter of 2011, the eurozone's GDP fell by 0.3 percent. Compared to the fourth quarter of 2010, the GDP rose by 0.7 percent, Eurostat said.

By close of trading, the Dow Jones industrial average shed 97.33 points, or 0.76 percent, to 12,780.95. The Standard & Poor's 500 index lost 7.27 points, or 0.54 percent, to 1,343.23. The Nasdaq composite index was off 16 points, or 0.55 percent, to 2,915.83.

On the New York Stock Exchange, 1,296 stocks advanced and 1,471 declined on a volume of 3.9 billion shares traded.

The benchmark 10-year treasury note rose 2/32 to yield 1.934 percent.

The euro fell to $1.3067 from Tuesday's $1.3131. Against the yen, the dollar fell to 78.38 yen from Tuesday's 78.44 yen.

In Tokyo, the Nikkei 225 index rose 2.3 percent, 208.27 points, to 9,260.34.

In London, the FTSE 100 index lost 0.13 percent, 7.71, to 5,892.16.