September 15, 2009

U.S. markets hit early slide

U.S. markets slid early Tuesday despite a New York Federal Reserve Bank report that said business conditions have improved.

In its monthly manufacturing survey, the New York Fed said the general business conditions index for the Empire State rose 7 points to 18.9, its highest level since late 2007.

In midmorning trading, the Dow Jones industrial average dropped 10.43 points, 0.11 percent, to 9,616.37. The Standard & Poor's 500 lost 0.23 percent, 2.41 points, to 1,046.93. The Nasdaq composite index lost 0.07 percent, 1.45 points, to 2,090.33.

The benchmark 10-year Treasury fell 8/32 to yield 3.454 percent.

The euro fell to $1.4585, compared with Monday's $1.4621. Against the yen, the dollar rose to 91.20 yen, compared with Monday's 90.92 yen.

In Japan, the Nikkei 225 index added 15.56 points, 0.15 percent, to 10,217.62.