21 Jul 2011

Wall Street flat as US debt battle weighs on stocks

8:34 am on 21 July 2011

Wall Street stocks fell slightly as concern the United States government will fail to reach an agreement on the deficit overshadowed news of higher-than-forecast earnings and takeovers.

The Dow Jones Index fell 16 points (0.12%) to close at 12,572 on Wednesday.

The Nasdaq Composite fell 12 points to finish the session at 2814.

Debt problems in Europe and the protracted political battle over increasing the US debt ceiling have weighed on stocks, Reuters reports.