Stocks can't hold gains and close down. S&P and NASDAQ have worst week since March

<p>The major US stock indices traded above and below unchanged today in up-and-down trading, but each of the indices is ending the day in the red. A snapshot of the closing levels shows:</p><ul><li>Dow industrial average -106.60 points or -0.31% at 3393.83</li><li>S&amp;P index -9.96 points or -0.23% at 4320.05</li><li>NASDAQ index -12.19 points or -0.09% at 13211.80</li></ul><p>For the trading week, all major indices closed lower. The Dow industrial average has now declined 2 of the last 3 trading weeks. The S&amp;P and NASDAQ index closed lower for the 3rd consecutive week. </p><p>For the NASDAQ index, the move lower this week was the largest decline since March 6. For the S&amp;P index, it also had its worst week since March 6.</p><p>For the trading week:</p><ul><li>Dow industrial average fell -1.89%</li><li>S&amp;P index fell -2.93%</li><li>NASDAQ index fell -3.62%</li></ul><p>Hurting the tone in stocks are:</p><ul><li>Higher rates</li><li>Concerns about government shutdown</li><li>Higher energy prices</li><li>Auto strikes</li><li>Increased government debt</li></ul><p>Technically, the Dow industrial average, NASDAQ index, and S&amp;P index all our closing week below there 100 day moving averages.</p>

This article was written by Greg Michalowski at www.forexlive.com.