Decline in US stock market moderates
THE ASSOCIATED PRESS January 27, 2014 9:04AM
Stocks were slightly lower Monday on Wall Street, moderating their losses after a rout last week. | AP file photo
Updated: January 27, 2014 3:22PM
NEW YORK — Stocks were slightly lower Monday on Wall Street, moderating their losses after a rout last week.
Industrial stocks were among the few winners after heavy-equipment maker Caterpillar reported a surge in earnings for the fourth quarter.
The Dow Jones industrial average fell 44 points, or 0.3 percent, to 15,837. The Standard & Poor’s 500 index fell eight points, or 0.5 percent, to 1,781. The Nasdaq composite fell 44 points, or 1.1 percent, to 4,083.
Investors were encouraged by signs of stability in Argentina and Turkey, two of the emerging markets that got slammed last week. There have also been concerns that China’s economic engine is slowing down, potentially dragging other developing countries along with it.
Asian markets slumped. European markets fell slightly.