Summary Box: Dow edges lower with Europe worries

AP News
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Posted: Jan 11, 2012 5:31 PM
Summary Box: Dow edges lower with Europe worries

EUROPE SLOWS: Germany reported that its economy, the largest in Europe, shrank slightly at the end of last year. The European Union revised its figures for economic growth in the third quarter to 0.1 percent, its slowest pace in more than two years.

KNOCK-ON EFFECTS: The United States depends on Europe to buy about 20 percent of its exports. Concerns about Europe's economy have helped lead analysts to lower their profit estimates for U.S. companies.

EARNINGS RESULTS: Supervalu, a grocery store operator, plunged after reporting a wider-than-expected quarterly loss because of high food prices and costs related to a turnaround plan.