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Stocks close lower after economy report

7:04 AM, Jan 31, 2013   |    comments
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NEW YORK (AP) - U.S. stocks declined Wednesday after a report showed that the U.S. economy unexpectedly contracted in the fourth quarter of last year. That put the brakes on a January rally that has pushed stocks toward record levels.

The Dow fell 44 points to 13,910 -- its biggest decline in three weeks. The S&P 500 logged its biggest decline of the year, falling 6 points to 1,501 -- after rallying close to a record. The Nasdaq fell 11 points to 3,142.






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