NEW YORK (AP) - The latest twists in Europe's debt drama weighed down the stock market Tuesday, offsetting more good news on the U.S. housing market.
The Dow Jones industrial average managed a gain of just four points, while other indexes closed slightly lower. Investors were focused on Cyprus, where the Mediterranean country's lawmakers vote against a proposed bailout plan for banks that would have called for raiding the savings accounts of ordinary citizens, setting a precedent in Europe's ongoing debt crisis. The vote happened 90 minutes before U.S. markets closed, at 2:30 p.m. Eastern time.
The Dow rose 4 points to close at 14,456. The S&P 500 dropped 4 points to 1,548 and the Nasdaq fell 8 ½ points to 3,229.