US stocks retreat from gains earlier in week
Washington - US stocks fell Friday, trimming gains earlier in the week that saw the Dow Jones Industrial Average hit its highest mark in nearly four years.
The drop came amid investor jitters that the stock market has outpace deconomic growth, as the economy continues a long slog toward full recovery from the 2008-09 recession, the worst in decades.
The Dow closed above 13,000 on Tuesday for the first time since May 2008 after a better-than-expected consumer confidence report boosted optimism in the world's largest economy.
The blue-chip Dow sunk 2.73 points, or 0.02 per cent, to 12,977.57. The broader Standard & Poor's 500 Index lost 4.46 points, or 0.32 per cent, to 1,369.63. The technology-heavy Nasdaq slumped 12.78 points, or 0.43 per cent, to 2,976.19.
The US currency rose against the euro to 75.77 euro cents from 75 euro cents on Thursday. The dollar climbed against the Japanese currency to 81.77 from 81.09 yen.//DPA
