U.S. stocks fell Tuesday, with the Dow Jones Industrial Average still poised for its biggest January-point jump on record, as investors weighed domestic and European issues, according to Marketwatch reports.
“There are those market participants suffering from a bit of vertigo after a strong start to the year, pointing to cracks in the economic data stream,” such as data on Monday that showed personal spending stalled in December and Tuesday’s indicator pointing to a decline in consumer confidence, said Art Hogan, equity strategist at Lazard Capital Markets
”In both cases we’re looking at lagging indicators,” said Hogan, who attributed the recent action as “the market is taking a bit of a pause after having a terrific start to the year.”
The Dow Jones Industrial Average DJIA -0.55% fell 70.57 points to 12,583.15, a level that leaves it up 365.59 points for the month and year….
Find out more at http://www.marketwatch.com/story/us-stocks-erase-gains-on-confidence-fall-2012-01-31
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