US Stocks Decline

Posted August 25th, 2011 at 4:15 pm (UTC-5)
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U.S. stock market indexes fell sharply in Thursday's trading. The Dow Jones Industrial Average retreated 1.5 percent to close at 11,150. The S&P 500 fell 1.6 percent to hit 1,159 and the Nasdaq composite index slid 2 percent to reach 2,420.

European stock markets were sharply lower at the close of trading. London's Financial Times 100 index lost 1.4 percent to end at 5,131. The CAC 40 in Paris moved down seven-tenths of a percent to finish at 3,119. The DAX index in Frankfurt plunged 1.7 percent to 5,584 as some investors worried that officials might restrict short selling of stock .

Earlier in Asia, Tokyo's Nikkei index gained 1.5 percent to finish at 8,772. Hong Kong's Hang Seng index rose 1.5 percent to finish the day's trading at 19,752.

The price of gold rose more than $11 to trade at $1,770.40 an ounce.

The dollar was higher against the yen and the euro.