Stocks Fall As Worries Mount Over Japanese Economy

NEW YORK (AP) — Mounting concerns over the impact of the massive earthquake in Japan are pushing stocks lower in midday trading. The earthquake and tsunami along Japan’s northeast coast killed thousands and has raised fears of a slowdown in the world’s third-largest economy.

All 10 company groups that make up the Standard and Poor’s 500 index fell Monday. Utilities companies lost 2 percent, the most of any group, on concerns that the disaster may lead to increased scrutiny of nuclear power plants.

The S&P index is down 15 points, or 1.2 percent, to 1,289.

The Dow Jones industrial average is down 116 points, or 1 percent, to 11,927. The Nasdaq composite is down 29, or 1.1 percent, to 2,686.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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