Business
New York | May 09, 2008 12:01:13 AM IST
U.S. stock indexes fell marginally in early afternoon trading Tuesday, while investors anticipate a small reduction in key lending rates. The U.S. Federal Reserve Open Market Committee is expected to announce a reduction in lending rates Wednesday, analysts said. The Dow Jones industrial average was down in early afternoon trading, off 42.01 points to 12,829.74, off 0.33 percent. The Standard and Poor's 500 index slid 6.82 points to 1,389.55, off 0.49 percent. The Nasdaq composite index dropped 9.57 points to 2,414.83, down 0.39 percent. The 10-year U.S. Treasury note gained 14/32 to yield 3.78 percent. The dollar was mixed. The euro traded at $1.5603 from Monday's $1.564, while the dollar traded at 103.46 yen from Monday's 104.19 yen. In Tokyo, the Nikkei index gained 30.90 points to 13,894.37, up 0.22 percent. In London, the FTSE 100 index lost 4.00 to 6,086.40, off 0.07 percent. (UPI)
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