Stocks pare losses but end lower on Europe worry

Stocks pare losses but end lower on Europe worry
Greek parties struggle to form a government after election
NEW YORK (MarketWatch) — U.S. stocks recouped most of Tuesday’s losses, limiting the damage that came with concern about Greece’s struggle to form a government.

“This has been a pattern: sell until Europe closes. Once we stop getting pelted by the continual syncopation of bad news, there is more opportunity to focus on the U.S. market and the U.S. economy,” said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.

After a 198-point drop, the Dow Jones Industrial Average (DJI JIA) closed down 76.44 points, or 0.6%, at 12,932.09, with 25 of its 30 components down, including fast-food chain McDonald’s Corp. (NYSE:MCD) after its April sales missed estimates.

The S&P 500 Index (SNC:SPX) retreated 5.86 points, or 0.4%, at 1,363.72, with the consumer-discretionary sector down the most and health care and utilities faring the best among its 10 sectors.
http://www.marketwatch.com/story/us-stocks-do...2012-05-08