Wall Street stocks ended lower Monday as investors worried over the economic
impact of the Asian earthquake disasters.
The Dow Jones industrial average fell 50.99 points, or 0.47 percent, to
10,776.13 points. The Nasdaq composite index shed 6.40points, or 0.3 percent, to
2,154.22 points. The Standard & Poor's 500 index lost 5.21 points, or 0.43
percent, to 1,204.92 points.
On Monday, investors shrugged off the decent holiday sales datafrom retailers
and focused on the economic impact of the Asian earthquake disasters. Insurers,
hotels and travel-related stocks fell as investors worried about the Asian
earthquakes, though the economic impact for the United States was not fully
determined.
Falling oil prices failed to boost the market. Crude oil futures declined by
almost 3 dollars a barrel in the New York Mercantile Exchange, bringing the
futures down 26 percent from their record highs late October.
American Insurance Group Inc. fell 41 cents to 65.88 dollars, and Hilton
Hotels Corp. shed 5 cents to 22.51 dollars as news fromAsia continued to come
in.
Sirus Satellite Radio Inc. gained 15 cents to 8.10 dollars after it reached 1
million subscribers, Amazon.com Inc. jumped 3.32 dollars to 42.25 dollars on
rise in holiday online sales, and Wal-Mart gained 24 cents to 52.79 dollars
after the retailer reported a rise in its holiday sales.
On the NYSE, declining stocks outstripped advancers 8 to 5, andthe trading
volume was 1.17 billion shares.
In late New York trading, the dollar fell against major foreigncurrencies.
The euro rose to 1.3620 dollars from 1.3493 dollars late Thursday. The British
pound rose to 1.9335 dollars from 1.9201 dollars. The dollar was quoted at
103.10 yen, down from 103.70, 1.2193 Canadian dollars, down from 1.2334, and
1.1356 Swiss francs, down from 1.1440.