Stocks fall on Wall Street, hurt by worries about Europe despite Cyprus bailout

NEW YORK, N.Y. – U.S. stock markets are closing lower, hurt by worries about Europe’s economy despite a bailout of Cyprus.

The Dow Jones industrial average fell 64 points, or 0.4 per cent, to 14,447 at the close of trading on Monday.

The Standard & Poor’s 500 Index fell five points, or 0.3 per cent, to 1,551. The Nasdaq slipped nine points, or 0.3 per cent, to 3,235.

Optimism about a deal to prevent financial collapse in Cyprus had briefly pushed the Standard & Poor’s 500 index to within a half-point of its all-time high in early trading, but stock markets soon turned negative.

By day’s end, declining stocks led advancing ones on the New York Stock Exchange, with decliners totalling 1,782 and advancers totalling 1,221.

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