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.READ MORE: Man Shot While Walking Dogs In Hollywood, 2 French Bulldogs Stolen
The S&P index is down 15 points, or 1.2 percent, to 1,289.READ MORE: At Least 2 Homes Destroyed When Wind-Whipped Fire Rips Through Bloomington Neighborhood
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.MORE NEWS: UCLA Runner Chris Weiland Dismissed From Team Over Racial, Homophobic Slurs
(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)