US stocks are mostly spared from a global sell-off

Source: AP-Excite

By KEN SWEET

NEW YORK (AP) — The U.S. stock market ended slightly lower Tuesday, avoiding the sharp declines in Europe and Asia thanks to a rally in beaten-down energy companies.

After an early sell-off, the Dow Jones industrial average steadied and ended with a moderate loss of 0.3 percent. That followed a sharp drop in European indexes, most notably in Greece, where the stock market suffered its biggest one-day loss since 1987. Greek officials called an early presidential vote, and investors feared the outcome could jeopardize the country's bailout program.

Stocks in China also stumbled, interrupting a months-long surge, after regulators there tightened rules for lending.

At the end of the day, the Dow lost 51.28 points to close at 17,801.20. It was down as much as 222 points in early trading. The Standard & Poor's 500 index closed effectively unchanged on the day, down 0.49 of a point to 2,059.82. The Nasdaq composite added 25.77 points, or 0.5 percent, to 4,766.47.

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FILE - In this Oct. 8, 2014 file photo, American flags fly in front of the New York Stock Exchange, in New York. U.S. stocks are opening sharply lower Tuesday, Dec. 9, 2014, following a slump in global markets. (AP Photo/Mark Lennihan, File)

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