US markets Dow Jones,Nasdaq and S&P closed on a dull note

[gnutrade.satya]

US markets like Dow Jones, Nasdaq and S&P closed on a dull note as a downgrade by Fitch of Spain's credit rating reignited worries about euro-zone debt issues. Terry Morris, senior equity manager for National Penn Investors Trust Company in Reading said: "It definitely spooked the market, no doubt about it. Up until now it's been mostly Greece and the threat of Spain and Portugal and Ireland. With Fitch actually downgrading Spain, it seems as if it is no longer a hypothetical, the contagion is now real."
Karl Mills, president of Jurika, Mills & Keifer Investment Partners in Oakland said: "The concerns about austerity programs are real, they are still there. Some days you don't think of it and you can breed a sense of complacency, and some days it matters a lot."
Dow Jones closed closed 1.19 percent at 10,136.63. Nasdaq rose at 2, 257 while the S&P 500 down 1.24 percent at 1,089.