Concerns Over Health Of European Economy Cause Stocks To Fall: Acadiana Business Index
A day after the Dow gained over 200 points, it takes a dip. Mark Lasseigne fills you in.
- Dow Jones Industrial Average fell 77 points to 11,406.
- The Federal Reserve said US industrial production rose 0.9% in July compared with June, better than expected. However, U.S. home construction fell 1.5%, and data showed new building permits, a gauge of future construction, dropped 3.2%.
- Fitch affirmed its triple-A credit rating on the U.S., pointing to the nation's continued position as a leader of the global economy.
- The European Union's official statistics agency said the combined gross domestic product of the euro zone's 17 members grew by only 0.2% from the first quarter.
- Crude oil closing at $86.65 a barrel.
- And gold back in record territory, settling at $1,785 an ounce.