24 May 2012

Offshore stocks down

9:36 pm on 24 May 2012

Stocks on Wall St pared heavy losses on Wednesday, with both the Nasdaq and the S&P 500 turning positive in a late reversal. The turnaround was led by shares of materials companies, while Apple boosted technology shares.

The Dow Jones Index fell 7 points to close at 12,496. The Nasdaq Composite rose 11 points to finish at 2850.

The FTSE 100 index in London plunged 2.5% to 5566, the DAX in Frankfurt fell 2.3% to 6286 and the CAC-40 in Paris fell 2.62% to 3003.

The Australian 200 Index fell 54 points, or 1.3%, to close at 4067 on Wednesday and the NZX50 index fell 20 points, or 0.6%, to close at 3510.