US Stocks Fall Sharply in Midday Trading Tuesday

Posted September 6th, 2011 at 1:30 pm (UTC-5)
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U.S. stock indexes fell sharply in midday trading Tuesday, as concern grew about a stagnant economy in the United States and government debt in Europe.

The Dow Jones Industrial Average of 30 key stocks is off 1.9 percent, while the broader S&P 500 index is down 1.8 percent. The technology-laden NASDAQ is down 1.7 percent.

Stocks ended mixed in Europe.

London's Financial Times 100 index ended up 1.1 percent to close at 5,157. The CAC-40 in Paris closed down 1.1 percent to finish at 2,966. The DAX in Frankfurt ended down 1 percent to finish the day's trading at 5,194.

Earlier in Asia, Tokyo's Nikkei index dropped 2.2 percent to finish at 8,591. Hong Kong's Hang Seng index rose one-half of one percent to end at 19,711.

Gold is trading down $21.70 at $1,878.52 an ounce.

The dollar is trading up against both the euro and yen.