July 12, 2012-Markets Close Lower for 4th Day

After moving sharply lower in early trading on Thursday, stocks regained some ground over the course of the session but still ended the day in the red. Concerns about the outlook for the economy continued to weigh on the markets. The major averages ended the day in negative territory but well off their worst levels of the session. The Dow slipped 31.26 points or 0.3 percent at 12,573.27, the Nasdaq fell 21.79 points or 0.8 percent to 2,866.19 and the S&P 500 dropped 6.69 points or 0.5 percent to 1,334.76. With the losses on the day, stocks extended the downward move that has seen since the release of the Labor Department's disappointing employment report last Friday. The report, which showed weaker than expected job growth in the month of June, raised concerns about the economic outlook that continue to negatively impact stocks. Traders also continued to digest yesterday's release of the minutes of the latest Federal Reserve meeting, which gave no hint that a third round of quantitative easing is imminent.