How the major US stock indexes fared on Wednesday

AP News
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Posted: Jul 11, 2012 5:26 PM
How the major US stock indexes fared on Wednesday

Stocks fell for the fifth straight day Wednesday after minutes from a Federal Reserve meeting highlighted concerns about the U.S. economy.

In a summary of their June meeting, Fed officials said the economy could struggle if Congress fails to avert tax hikes and spending cuts scheduled for the end of the year. Europe's debt crisis and China also posed risks.

The Dow Jones industrial average fell 48.59 points, or 0.4 percent, to 12,604.53.

The Standard & Poor's 500 dropped 0.02 of a point, less than 0.01 percent, to 1,341.45.

The Nasdaq composite index fell 14.35 points, or 0.5 percent, to 2,887.98.

For the week:

The Dow is down 167.94, or 1.3 percent.

The S&P 500 is down 13.23, or 1 percent.

The Nasdaq is down 49.35, or 1.7 percent.

For the year:

The Dow is up 386.97, or 3.2 percent.

The S&P 500 is up 83.85, or 6.7 percent.

The Nasdaq is up 282.83, or 10.9 percent.