Stocks lower at midday

AP News
Posted: Sep 26, 2012 11:40 AM
Stocks lower at midday

NEW YORK (AP) — Stocks are lower at midday as unrest simmers in Europe.

Just before noon, the Dow Jones industrial average is off 27 points at 13,430. the Standard & Poor's 500 index is down eight at 1,434. And the Nasdaq composite index is down 29 at 3,089.

European stocks are having their worst day in months as unrest threatens to boil over in Greece, where deep budget cuts have eroded people's living standards, and in Spain.

In the U.S., the median price of new homes sold in August rose by a record amount, while sales of new homes dipped slightly.