Monday, January 7, 2013

U.S. stocks decline amid fiscal jitters; Dow Jones down 0.46% - U.S. stocks opened lower on Monday, as concerns over a potential slowdown of the U.S. job market coupled with worries over upcoming U.S. debt ceiling discussions weighed on investor confidence. 

During early U.S. trade, the Dow Jones Industrial Average dropped 0.46%, the S&P 500 index declined 0.44%, while the Nasdaq Composite index retreated 0.40%. 

On Friday, the U.S. Department of Labor said the economy added 155,000 jobs in December, slightly higher than forecasts for an increase of 150,000, but easing from an upwardly revised increase of 161,000 in November, suggesting that the recovery in the labor market may be slowing. 

The data came one day after the minutes of the Federal Reserves’ December policy meeting showed that some policymakers considered an earlier-than-expected end to the bank’s quantitative easing program. 

Investors also remained cautious over the longer term outlook in the U.S., with negotiations on raising the debt ceiling still to come in February.;-dow-jones-down-0.46-242725

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