Trader Warren Meyers works on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
Trader Warren Meyers works on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
Wall Street takes Cyprus bailout vote in stride
NEW YORK (
AP) — Investors are taking the latest turn in Europe's financial drama in stride.
U.S. stocks recovered most of an early loss Tuesday and ended little changed, even after lawmakers in Cyprus rejected the terms of a highly unpopular bailout plan that would have called for raiding the bank accounts of ordinary Cypriots.
The Dow Jones industrial average closed up three points, less than 0.1 percent, at 14,455. It had been down as much as 70 in the afternoon.
Other indexes closed slightly lower. The Standard & Poor's 500 index lost three points, 0.2 percent, to 1,548. The Nasdaq composite lost eight points, or 0.3 percent, to 3,229.
Three stocks fell for every two that rose on the New York Stock Exchange. Volume was slightly heavier than usual, 3.7 billion shares.
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