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8B Daily News – Tuesday, March 6, 2012 Two signs of trouble else- where in the world pushed U.S. stocks lower: slowing economic growth in China and a possible hitch in a deal to get Greece its bailout money. The Dow Jones indus- Stocks edge lower on worries about China, Greece Wall Street NEW YORK (AP) — trial average closed the day down 14.76 points to 12,962.81, or down 0.1 percent. The Dow closed above 13,000 last week for the first time since May 2008. Monday was the 45th consecutive trading day without a loss of 100 points or more for the Dow. The last streak longer than that was 93 trading days from July 17 to Nov. 24, 2006. Much of the pes- simism in the market stemmed from China's premier, Wen Jiabao, lowering China's target rate for economic growth to 7.5 percent from 8 per- cent, where it has stood for years. That's a nega- tive sign because growth in China has been a key factor shoring up the global economy since the financial crisis of 2008. The news sent steel company stocks sharply lower. Half of the world's steel is consumed in China. AK Steel Holding Corp. lost 6 percent, while US Steel fell 4.7 percent. The lower projection for Chinese growth also hurt stocks of U.S. mate- rials companies that depend on China for prof- its. Caterpillar, which makes heavy equipment, fell 2.1 percent. Alcoa, the aluminum maker, fell 3.6 percent. The Dow fell as much as 93 points in the morn- ing before recouping some of that loss in the afternoon. Some market strategists said it was an overreaction to read too much into China's projec- tion. ''China is still a driver of global growth, even at its slightly reduced pace,'' said Richard Cripps, chief market strategist at Stifel Nico- laus. ''The growth rate is still far better than the U.S. and Europe.'' The Standard & Poor's 500 dropped 5.30 points, or 0.4 percent, to 1,364.33. The Nasdaq composite index fell 25.71 points, or 0.9 percent, to 2,950.48. The technology-heavy Nasdaq index fell slightly more than the other indexes as its star stocks Apple fell 2.2 percent and Google fell close to 1.1 percent. Also weighing on the market were worries that not enough private investors will participate in a bond swap in Greece THE Did You Know? You have the choice to select your own repair facility. Fast, High Quality Repairs with 100% Satisfaction GUARANTEED! Red Bluff Collision Auto repair and refinishing, glass repair, custom paint and matching 530.527.6160 • 915 Madison St., Red Bluff Locally owned & operated Keep the 5A>6 air out & the WARM air in with Better Built Windows REMEMBER US FOR ALL YOUR DOOR & MOLDING NEEDS. We're not just for contractors 1040 B Monroe St., Red Bluff (530) 527-7962 LIC#659256 and accept bonds of lower face value and lower returns. Trying to reassure world markets, a group representing a dozen banks, insurers and investment funds that hold Greek government bonds said they will par- ticipate in the swap by the Thursday night deadline. Greece needs private investors to sign on before it gets a second international bailout worth $172 billion. With- out the bailout, it could default on its debt later this month, an event many fear could shock the world financial sys- tem. The stock market's losses were limited by some positive news from the U.S. economy. Ser- vice companies expanded in February at the fastest pace in a year, helped by a rise in orders and job growth. The Institute for Sup- ply Management said making big moves: — Alpha Natural Resources, a coal produc- er, fell 6 percent after the price of natural gas fell close to 5 percent due to weak demand for gas in a mild winter. Monday that its index of non-manufacturing activ- ity rose to 57.3, up from 56.8 in January and the third straight increase. Any reading above 50 indicates expansion. In recent months, mar- kets have been lifted by signs of improvement in the U.S. economy. U.S. stock indexes have been trading at their highest levels since before the collapse of the Lehman Brothers investment bank in 2008. Among other stocks ENERGY EFFICIENT WINDOWS & DOORS WE'VE MOVED... to better serve you! 825 South Main St. 528-1688 At the Raley's Shopping Center, next to Papa Murphy's Computer Solutions for Home or Business www.xtremepcsolutions.com 91ST — Archipelago Learn- ing stock soared 22.7 per- cent after the online edu- cation company agreed to be bought by Plato Learn- ing for $291 million in cash, helping boost the number of customers. — US Airways Group fell 8.4 percent after the airline said passenger revenue growth slowed in February, indicating it is having a tough time raising fares and fees to offset climbing oil prices. — American Interna- tional Group rose close to 2 percent. 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