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Dow drops for third day

Aug. 22, 2012 at 6:33 PM   |   Comments

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NEW YORK, Aug. 22 (UPI) -- U.S. stock indexes were mixed Wednesday with the blue-chip Dow Jones industrial average losing ground for the third consecutive day.

The DJIA could be poised to close down a six-week rally that has positioned stocks at levels unseen for more than four years.

In six weeks, the index has gained 9.7 percent. This week, however, the DJIA shed 3 points Monday and 68 points Tuesday. By close of trading Wednesday, the index gave up 30.82 points or 0.23 percent to hit 13,172.76.

The tech-heavy Nasdaq Composite index added 6.41 points or 0.21 percent to 3,073.67. The Standard and Poor's 500 gained 0.32 points or 0.02 percent to 1,413.49.

On the New York Stock Exchange, 1,192 stocks advanced and 1,825 declined on a volume of 3 billion shares traded.

The benchmark 10-year treasury rose 32/32, yielding 1.694 percent.

The euro rose to $1.2528 from Tuesday's $1.2473. Against the yen, the dollar fell to 78.54 yen from 79.29 yen.

In Tokyo, the Nikkei 255 index fell to 9,131.74, dropping 25.18 points, or 0.27 percent.

In London, the FTSE 100 index dropped 1.42 percent, 83.32 points, to 5,774.20.

© 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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