News Summary: Europe fears drag on US stocks

AP News
Posted: Sep 24, 2012 4:38 PM
News Summary: Europe fears drag on US stocks

STOCKS MEANDER: U.S. stocks closed down slightly as fears about Europe overshadowed recent excitement about central banks' efforts to boost the market.

GERMANY'S WEAKNESS: An index of business confidence in Germany, the biggest economy in Europe, fell for a fifth straight month. Many economists had expected it to at least remain flat. Some think Germany is headed for a recession.

APPLE FALLS: Technology shares, including the tech-heavy Nasdaq composite index, were dragged lower by Apple. The iconic gizmo-maker closed down $9.31, or 1.3 percent, to $690.79. Analysts were disappointed by first-weekend sales of its new iPhone 5.