US stocks drift on Monday as European gloom returns
Published on Sep 25, 2012 8:24 AM
United States stocks meandered sideways on Monday as fears about Europe overshadowed recent excitement about central banks' efforts to boost the market.
Stocks opened lower, recovered by mid-afternoon to nearly flat and closed down modestly.
An index of business confidence in Germany, the biggest economy in Europe, fell for a fifth straight month. Many economists had expected it to at least remain flat. Some think Germany is headed for a recession.
The threat of the years-old European debt crisis has seemed less immediate in recent weeks as central banks unveiled measures aimed at encouraging investment and boosting the global economy.
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