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Published: Saturday 26 October, 2013

shoes online shopping shoes online shopping ?European debt worries depress U



stock indicators were down at closing, though not as sharply as the previous day, when the markets suffered their worst losses in three months.



The Dow Jones industrial average fell 0.5 percent, or 58.65 points, to close at shoes online shopping 10,868.12. stocks, dropped 0.7 percent, or 7.73 points, to 1165.87. And the techheavy Nasdaq composite index tumbled 0.9 percent, or 21.96 points, to 2402.29.



Were in the midst of a pullback here, said Peter Cardillo, chief market economist with New Yorkbased Avalon Partners. Risk aversion is back in fashion.



Fears that Greeces financial troubles will spread to other European countries were fanned early in the day when Moodys Investors Service said it would review Portugals debt ratings for a possible downgrade within three months because the country had failed to rein in its budget deficit.



Violent riots that broke out in Athens, killing three people who were trapped in a bank set ablaze by protesters, further unnerved investors. The mobs were protesting austerity measures such as pay cuts and tax increases that need to be put in place for Greece to receive the $141 billion bailout offered this weekend by the International Monetary Fund and the European shoes online shopping Union.



The civil unrest cast doubts about the Socialist administrations ability to impose those measures and avoid bankruptcy.



Yie shoes online shopping lds on debt issued by Greece surged, suggesting that investors fear Greece will default. Bond yields were up in Portugal and Spain as well. A higher yield means that investors are demanding a bigger return to buy a governments debt.



Meanwhile, the euro fell to its lowest level against the dollar in more than a year. exports to compete with European products.



Its almost a cathartic blowout on the euro, said Alan Ruskin, chief international strategist at RBS Securities.



Other data from the Institute for Supply Management showed that its index of activity in the nonmanufacturing sector grew in April for the fourth straight month. The institute compiles an index based on surveys of large businesses. The indexs reading was 55.4, about the same as the previous month, but less than the 56 that economists surveyed by Bloomberg had predicted. Any reading above 50 signals expansion. shoes online shopping

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