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Stocks slide Monday

April 23, 2012 at 7:34 PM   |   Comments

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NEW YORK, April 23 (UPI) -- Stocks turned lower on Wall Street following big losses in Asia and Europe and news that Walmart was internally investigating allegations of bribery in Mexico.

Shares at the world's largest retailer fell after a lengthy New York Times article told of Walmart executives having ignored in-house concerns over bribes given to hasten development in Mexico.

Walmart shares fell 4.66 percent. The Dow Jones industrial average, where Walmart is listed, lost 102.09 points or 0.78 percent to 12,927.17.

The tech-dominated Nasdaq composite index shed 30 points or 1 percent to 2,970.45. The Standard and Poor's 500 index gave up 11.59 points or 0.84 percent to 1,366.94.

On the New York Stock Exchange, 823 stocks advanced and 2,226 declined on a volume of 3.4 billion shares traded.

The 10-year treasury note rose 1/32 to yield 1.936 percent.

The euro fell to $1.3156 from Friday's $1.3218. Against the yen, the dollar fell to 81.12 yen from Friday's 81.55 yen.

In Tokyo, the Nikkei 225 index dropped 0.2 percent, 19.19, to 9,542.17.

In London, the FTSE 100 index shed 1.85 percent, 106.58, to 5,665.57.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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