US stocks end sharply lower


11/07/2012 07:10 AST  Business Times

US stocks closed sharply lower Tuesday as investors digested a positive start to earnings season, a eurozone deal to help support Spain and its banks, and disappointing Chinese trade data.

A slump in confidence registered by a US small-business survey and warnings on the corporate front "became the 'anxiety du jour,'" Charles Schwab & Co. analysts said.

The Dow Jones Industrial Average dropped 83.17 points (0.65 percent), closing at 12,653.12.

The S&P 500 fell 10.99 points (0.81 percent) to 1,341.47, while the tech-rich Nasdaq skidded 29.44 (1.00 percent) to 2,902.33.

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