Stocks retreat as weak earnings provide no joy
European markets also sag
2/8/2013NEW YORK — The stock market closed lower today, and the rally that has pushed indexes close to record levels stalled.
Stocks fell as weaker earnings and worries about Europe overshadowed healthier signs for the U.S. economy.
The Dow Jones industrial average lost 42 points to 13,944 today, after falling as much as 134 points earlier. The index has traded largely sideways this week, after logging its best January in almost two decades.
The Standard and Poor's 500 fell 3 points to 1,509 and the Nasdaq composite also dropped 3 points, to 3,165.
Decliner stocks outpaced advancing ones on the New York Stock Exchange. Volume of 3.53 billion shares on the New York stock Exchange was above average.