Make us your home page
Instagram

Stocks suffer worst loss in a month; Dow off 125

NEW YORK — European debt flared again as a worry for Wall Street and drove stocks Wednesday to their worst loss in a month. The Dow Jones industrial average lost 125 points, and the price of gold plunged to its lowest level since January.

It was only the second time this year the Dow has recorded a triple-digit decline. The average gained 8 percent from January through March, its best first quarter since 1998, but has lost 1 percent already in April.

The Dow was down as much as 179 points earlier in the day. It recovered to close down 124.80 at 13,074.75. Only four of the 30 stocks that make up the average rose for the day.

A disappointing auction of government debt in Spain signaled that investor confidence in that country's finances is weakening. Spain announced tax increases and budget cuts last week, which could hurt its economy further.

Bond yields in Spain shot higher, making it more expensive for the country to raise money. Benchmark stock indexes fell 2.8 percent in Germany, 2.7 percent in France and 2.3 percent in Britain.

Investors had scarcely stopped worrying about the fate of Greece when Spain took its place as the flashpoint of the debt crisis that has hobbled Europe for more than two years.

In the U.S., the Standard & Poor's 500 index finished down 14.42 at 1,398.96. The technology-heavy Nasdaq composite index fell 45.48 to 3,068.09, its worst decline of the year and the sixth loss in seven days.

Crude oil fell $2.54 a barrel to $101.47, its lowest level since mid-February.

Stocks suffer worst loss in a month; Dow off 125 10/05/11 [Last modified: Wednesday, April 4, 2012 5:09pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Expanded Belle Parc RV Resort lures travelers with plenty of amenities

    Business

    BROOKSVILLE — Imagine mid-mansion, upscale-enclave living. On wheels. The outcome is Belle Parc, an upwardly mobile, even luxury, RV retreat just north of Brooksville that opened Jan. 1 after two years undergoing expansion, uplift and amenity enrichment.

    A new welcome center is under construction, rear, at Belle Parc RV Resort, where lake sites are being completed, bringing the resort's capacity to 275 spacious park-and-stay slots.
 [Photo by Beth N. Gray]
  2. Memorial Day sales not enough to draw shoppers to Tampa Bay malls

    Retail

    TAMPA — Memorial Day sales at Tampa Bay area malls were not enough to compete with the beach and backyard barbecues this holiday weekend.

    Memorial Day sales weren't enough to draw shoppers to Tampa Bay area malls over the long weekend. 
[JUSTINE GRIFFIN | Times]
  3. Austin software company acquires second Tampa business

    Corporate

    Austin, Tex.-based Asure Software acquired Tampa's Compass HRM Inc. late last week for $6 million. Compass focuses on HR and payroll.

    [Company photo]
  4. Hackers hide cyberattacks in social media posts

    Business

    SAN FRANCISCO — It took only one attempt for Russian hackers to make their way into the computer of a Pentagon official. But the attack didn't come through an email or a file buried within a seemingly innocuous document.

    Jay Kaplan and Mark Kuhr, former NSA employees and co-founders of Synack, a cybersecurity company, in their office in Palo Alto, Calif., in 2013. While last year's hacking of senior Democratic Party officials raised awareness of the damage caused if just a handful of employees click on the wrong emails, few people realize that a message on Twitter or Facebook could give an attacker similar access to their system. 
[New York Times file photo]
  5. Big rents and changing tastes drive dives off St. Pete's 600 block

    Music & Concerts

    ST. PETERSBURG — Kendra Marolf was behind the lobby bar of the State Theatre, pouring vodka sodas for a weeknight crowd packed tight for Bishop Briggs, the latest alternative artist to sell out her club.

    Sam Picciano, 25, left, of Tampa and Molly Cord 24, Palm Harbor shop for record albums for a friend at Daddy Kool Records located on the 600 block of Central Avenue in St. Petersburg, Florida on Saturday, May 20, 2017. OCTAVIO JONES   |   Times