US stocks slide after early rally fizzles


12/06/2012 06:15 AST  Business Times

An early rally fuelled by Spain's banking bailout fizzled on Monday and US stocks headed into negative territory, as the reality of more imminent risks confronting the eurozone sank in.

At the close the Dow Jones Industrial Average was down 142.97 points (1.14 percent) to 12,411.23, after an opening spurt took it up some 81 points.

The broad-market S&P 500 fell 16.73 points (1.26 percent) to 1,308.93, while the tech-rich Nasdaq Composite lost 48.69 points (1.70 percent) to 2,809.73.

Traders also appeared to be taking profits after US equity markets scored their best week of the year last week.

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