Summary box: Dow drops on weak consumer confidence

AP News

3/27/2012 5:03:03 PM - AP News

LACKING CONFIDENCE: Major stock indexes opened higher Tuesday, then pulled back after 10 a.m., when the Conference Board said its index of consumer confidence slipped in March. Higher gas prices offset the surging stock market in pushing confidence lower.

THE DOW: The Dow Jones industrial average dropped 43.90 points to close at 13,197.73, a loss of 0.3 percent. Bank of America fell 3.3 percent, the biggest drop in the Dow, after an analyst downgraded the stock.

OTHER INDEXES: The Standard & Poor's 500 index dropped 3.99 points to 1,412.52. The Nasdaq composite fell 2.22 points to 3,120.35.