News Summary: Europe drives the market down

AP News
Posted: Jun 13, 2012 4:47 PM
News Summary: Europe drives the market down

BAD NEWS FOR BORROWING: Borrowing costs for Spain and Italy rose, a sign that investors aren't sure that those governments can repay their debt. Over the weekend, Spain announced it would take bailout loans for its hobbled banks.

BAILOUT FEVER: The finance minister of Cyprus said the country may seek its own bailout before the week is over. That would make it the fifth European country to seek a bailout from Europe, and the second this week.

DUDE, YOU'RE GETTING A DIVIDEND: Computer maker Dell rose 30 cents to $12.28 after announcing that it will pay its first shareholder dividend.