U.S. Market
Stocks were stuck in negative territory at midday as investors surveyed an array of economic data.

Consumer spending in the United States slowed in August as the income of Americans dropped for the first time in nearly two years. The Commerce Department reported that personal income fell 0.1% last month, thefirst decline since October 2009. The figure missed the 0.1% increase predicted by economists. Meanwhile, a weak labor market and high prices contributed to slower consumer spending, growing only 0.2% in August, compared with 0.7% in July. Spending was in line with economists’ expectations.

DJIA

10,990

-164.0
-1.5%
S&P 500
1,141
-19.2
-1.7%
NASDAQ
2,437
-43.7
-1.8%
9/30/2011 2:50 PM
Foreign Markets

European stocks were sharply lower in late trading, with the FTSE 100 and Paris CAC down 2% and Germany’s DAX 3% lower.

Asian markets closed in the red, ending the quarter on a sour note as investors expressed concern over Europe’s debt problems and a slowdown in the United States and China. The Shanghai Composite lost 0.3%, while the Hang Seng fell 2.3%. The Nikkei 225 ended flat.

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