US stocks markets follow Europe lower

November 27, 2010 | 10:30

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US stocks markets fell on Friday, with a holiday-thinned rank of traders taking their cue from European bourses.

The blue-chip Dow Jones Industrial Average fell 95.28 points (0.85 per cent) to 11,092.00 as the market marked an early close.

The S&P 500 index, a broader measure of the market, fell 8.95 points (0.75 per cent) to 1,189.40.

The Nasdaq fell 8.56 points (0.34 per cent) to 2,534.56.

Concerns about Chinese inflation, tensions on the Korean Peninsula, and Europe's debt woes weighed on US traders coming back from the Thanksgiving holiday.

Europe's main stock markets earlier slumped, on continued concerns about debt levels in Spain and Portugal after bailouts in Greece and Ireland.

US stocks followed that lead and were down across all major sectors.

Dow index big hitters American Express, Chevron and Johnston & Johnston all fell over one per cent.

The bond market rose.

The yield on the 10-year Treasury bond fell to 2.86 per cent from 2.91 per cent on Wednesday evening, while that of the 30-year bond fell to 4.21 per cent from 4.30 per cent. Bond prices and yields move in opposite directions.

AFP

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