By DPA,
New York : Major US stock indices fell Wednesday as investors feared a worsening European debt crisis.
The European Commission Wednesday unveiled proposals of unprecedented severity aimed at cracking down on European Union governments unable to keep their finances in order, while demonstrators took to the streets across Europe to protest government austerity measures.
The EU’s fiscal credibility has been battered over the last year as states such as Greece, Spain and Ireland teetered on the verge of bankruptcy.
The blue-chip Dow Jones Industrial Average fell 22.86 points, or 0.21 percent, to 10,835.28. The broader Standard and Poor’s 500 Index shed 2.97 points, or 0.26 percent, to 1,144.73. The technology-heavy Nasdaq Composite Index slipped 3.03 points, or 0.13
percent, to 2,376.56.
The US currency fell to 73.37 euro cents from 73.61 euro cents Tuesday. The dollar declined against the Japanese currency to 83.74 yen from 83.87 yen the previous day.