U.S. stock indexes tumbled Friday afternoon as a modest morning rally gave way to a retailer's prediction of weak first quarter sales.

J.C. Penny's statements took their toll on major market boards, analysts said.

The Dow Jones industrial fell 86.06 points by close Friday, off 0.7 percent to 12,216.40.

The Standard and Poor's 500 index lost 10.54 points to 1,315.22, off 0.8 percent.

The Nasdaq composite index dropped 0.86 percent to 2,261.18, down 19.65 points.

On the New York Stock Exchange 1,056 stocks advanced and 2,057 declined Friday on a volume of 1.353 billion shares traded.

The 10-year U.S. Treasury note gained 19/32 to yield 3.453 percent.

The dollar was weakened. The euro traded at $1.5802 Friday from Thursday's $1.5775, while the dollar traded at 99.21 yen from Thursday's 99.76 yen.

In Tokyo, the Nikkei average gained 215.89 points to close the week at 12,820.47, up 1.71 percent.

In London, the FSTE 100 index lost 13.10 points Friday to 5,704.40, down 0.23 percent.

Copyright 2008 by United Press International


Publication date: 28 March 2008   

Source: UPI-1-20080328-16241000-bc-us-markets-2ndld.xml

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