NEW YORK (Reuters) - Stocks fell on Wednesday after a large year-end convene and a S&P 500 erased gains for a year as investors shifted concentration to what is approaching to be a formidable start to 2012.
The euro's slip also spurred a selloff in stocks. The euro strike an 11-month low opposite a U.S. dollar as informal debt worries stirred a call of offered and triggered stops, with skinny trade exacerbating volatility.
"It seems like a debility in euro, violation that $1.40 level, unequivocally done investors pull that 'sell' button," pronounced Ryan Detrick, comparison technical strategist with Schaeffer's Investment Research in Cincinnati, Ohio.
"But it's rather of an farfetched move, deliberation that there isn't most volume, and this could finish in a one-day selloff."
U.S. batch index futures had modernized progressing in a event after an Italian debt auction where short-term borrowing costs were halved, potentially a good pointer for a sale of longer-dated holds on Thursday.
But those gains were short-lived, as a euro fell to a event low of $1.2938, a lowest given January, before rising behind to trade during $1.2949.
The Dow Jones industrial normal <.dji> was down 129.91 points, or 1.06 percent, during 12,161.44. The Standard & Poor's 500 Index <.spx> was down 14.43 points, or 1.14 percent, during 1,251.00. The Nasdaq Composite Index <.ixic> was down 30.51 points, or 1.16 percent, during 2,594.66.
After a 5 percent convene final week that helped Wall Street post a best entertain in over a year, a S&P 500 pulled behind subsequent a 200-day relocating average, a closely watched indicator of marketplace strength it has struggled to reason this year.
Investors strong on 2012, with Europe's debt predicament as good as a slack in Asia and a impact of Europe's retrogression on a U.S. liberation on a agenda.
"There are clearly some vital hurdles on a horizon," pronounced Peter Kenny, handling executive during Knight Capital in Jersey City, New Jersey. "Looking into subsequent year, there is some-more confinement about a risks compared with a stream climate."
The biggest gaining sectors over a final 5 days, in cyclical areas like materials and energy, led a marketplace reduce on Wednesday, sparked by a dump in commodity prices. The S&P materials zone index <.gspm> fell 2.2 percent.
Gold sank, tracking industrial metals, on concerns about a prospects for tellurian mercantile expansion subsequent year. It was gold's biggest one-day dump in dual weeks.
For a year, a Dow is adult 5.3 percent, while a S&P is down 0.2 percent, and a Nasdaq is off 1.9 percent. For a quarter, a S&P 500 is adult scarcely 11 percent.
Medicis Pharmaceutical Corp
Citigroup Inc
Volume was light in a post-Christmas duration and forward of a New Year's Day holiday. Composite volume on a New York Stock Exchange, a Nasdaq and Amex was 1.8 billion shares, good subsequent average. On a NYSE, about 4 holds fell for each one that rose.
(Reporting By Angela Moon; Editing by Jan Paschal)
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