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Troubles in Europe drag down stock indexes

Major stock indexes fell Wednesday from their 2010 highs as weakness in the housing market and rising European debt loads revived investors' pessimistic view of the economy.

Treasury prices tumbled after a government debt auction drew only modest demand for a second day. Washington has been issuing record amounts of debt to help revive the economy.

The drop in stocks came after Fitch Ratings lowered Portugal's credit rating over concerns that the country's recovery will be slower than others that use the euro. Deficit problems in Europe have been one of the few drags on stocks this year.

The Dow fell 52.68, or 0.5 percent, to 10,836.15, a day after closing at its highest level since September 2008. The Standard & Poor's 500 index dropped 6.45, or 0.6 percent, to 1,167.72. The Nasdaq composite index fell 16.48, or 0.6 percent, to 2,398.76. - AP

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