Wall Street falls as euro-zone tensions escalate
Published on Sep 27, 2012 8:09 AM
NEW YORK (REUTERS) - United States (US) stocks fell on Wednesday as protests in Spain and Greece over euro zone austerity measures raised fresh concerns over Europe's ability to get its debt crisis under control.
Investors sold risk-sensitive sectors such as energy and tech, while they poured money into more defensive areas like utilities and consumer staples. The S&P technology sector declined 0.8 per cent and the energy sector fell 0.9 per cent, while S&P utilities ended up 0.2 per cent.
Violent protests in Madrid against expected austerity measures and growing talk of secession in the wealthy Catalonia region increased pressure on Spanish Prime Minister Mariano Rajoy as he moves closer to asking euro zone policymakers for rescue money.
Meanwhile, Greece faced its biggest anti-austerity protest in more than a year as international lenders admitted to difficulty in working out how to solve Athens' debt crisis.
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