NEW YORK, Aug. 30 (UPI) -- U.S. stocks were down Tuesday because of the big headache caused by the aftermath of Hurricane Katrina.
The Dow Jones industrial average was down 49.12 points, or 0.47 percent, to 10,413.93 on a volume of 1.1 billion. The Nasdaq composite slipped 7.89, or 0.37 percent, to 2,129.76, and the Standard & Poor's 500 was off 3.81, or 0.31 percent, to 1,208.47.
Nearly all oil and natural production in the Gulf of Mexico is shut and insurers are facing as much as $25 billion in claims from damages in Louisiana, Mississippi and Alabama. Katrina slammed into the Gulf Coast Monday and claims scores of lives in addition to the billions in property damage.
The benchmark 10-year Treasury rose 10/32 of a point, or $3.13 per $1,000 invested, to yield 4.136 percent.
The dollar fell to 111.42 yen from 110.61, and the euro fell to $1.2190 from $1.2229.
Tokyo's Nikkei 225 rose 143.31 points or 1.2 percent to close at 12,453.14, and London's FTSE 100 closed at 5,264 after rising 35.90 or 0.69 percent.
