Issue link: https://www.epageflip.net/i/61914
10B Daily News – Saturday, April 14, 2012 Furniture Depot 235 So. Main St., Red Bluff 527-1657 SAT. 9:00-5:00 • SUN. 11:00-5:00 MON.-FRI. 9:00-6:00 *"no sales tax" in reference to discount given equal to the amount of calculated sales tax. (AP) — It was anoth- er losing week on Wall Street after worries about Europe returned. Stocks closed lower on Friday and closed out their worst week of the year so far. The Dow Jones industrial average lost 1.6 percent for the week, the Standard & Poor's 500 index fell 2 percent. The Dow is still ahead 5 percent for the year after a gangbusters first quarter. After the kind of returns investors have enjoyed so far this year, some ''it's not surprising that we sort of slosh investments for PNC Wealth Management. On Friday the Dow lost 136.99 points to close at 12,849.59, a loss of 1.1 percent. It was down all day but the loss- es got worse in the last half-hour. The decline wiped out much of the Dow's 181-point gain the day before. around here for a bit,'' said Jim Dunigan, man- aging executive of Poor's 500 index fell 17.31 points, or 1.3 per- The Standard & Proud residents are a region's most effective ambassadors. cent, to 1,370.26. The Nasdaq composite fell 44.22 points, 1.5 percent, to 3,011.33. Investors had several reasons to wonder about the prospects for global economic growth. High- er borrowing costs in Europe reminded investors that the conti- nent's debt problems aren't over. Growth slowed in China. And a closely watched gauge of consumer confidence came in weaker than ana- lysts were expecting. Peter Cardillo, chief market economist at Rockwell Global Capi- tal, said investors are worried that Europe's economic problems will be bigger than previously expected. Europe needs to growth to fix its debt problems, but higher bor- rowing costs could force more cuts in government spending. growth if you have too much austerity,'' Cardil- lo said. ''I think that's what the fear is.'' European markets fell ''You can't have SALE throughout the store Stocks fall on higher European borrowing costs Wall Street broadly. Indexes in France and Germany fell more than 2.4 percent. The FTSE 100 index in Britain fell 1 percent. The worries are con- centrated in Spain and Italy, and it showed up in their financial markets Friday. Spain's main stock index fell 3.6 per- cent and is now down 15 percent for the year. The yield on its 10-year gov- ernment bond rose to 5.93 percent, and Italy's rose to 5.52 percent. That's a sign that investors' confidence in those countries' finances slipped. It also means those countries will have to pay more to borrow money. New data showed the JPMorgan Chase & Co. both reported better- than-expected profits, but each fell more than 3.5 percent as investors focused on comments that said the overhang from bad loans would continue. big moves: Among stocks making — Apple Inc. fell 2.8 percent after reports that a German court ruled against it in a patent fight with Motorola over mobile e-mail technolo- gy. 2012 Sat., April 14th Red Bluff Round-Up Doors open @ 6pm • Band 7pm-11pm Fun social event including: Beer Garden, plus Wine, the LTD Band, Vendors, etc. Sat., April 14 , Cone Kimball Plaza CLOCKTOWER DANCE ...And coming up Sun, April 15th "Wild West Blend Release" Noon-5pm, Tehama Oaks Winery Walk, Wag, Ride-a Thon 10am-4pm, 1000 Sale Lane STICK HORSE RACE Downtown Red Bluff EQUAL HOUSING OPPORTUNITY A Retirement Community for the Active Senior Citizens Enjoy all the festivities during Rodeo Week 750 David Avenue, Red Bluff • 527-9193 ST Red Bluff Garden Center 527-0886 766 Antelope Blvd. (Next to the Fairground) GIANT PUMPKING CONTEST Kick-Off Saturday, April 28 @ 10am Learn how you can grow giant pumpkins Please call to reserve your seat Chinese economy grew at an 8.1 percent pace in the January-March peri- od, the slowest in almost three years. In the U.S., a closely-watched gauge of consumer confidence came in weaker than ana- lysts had been expecting. The stock declines were broad. All 10 mar- ket sectors tracked by the S&P 500 index fell, led by a 2.3 percent drop in financial stocks. Bank of America Corp. fell 5.3 percent. Wells Fargo & Co. and — Google fell 4 per- cent after the company said it would issue new non-voting stock to shareholders. — Coinstar, which runs the Redbox DVD rental kiosks, rose 7.3 percent after it raised its revenue forecast. — Dow Chemical rose 1.6 percent after it raised its quarterly divi- dend 28 percent. The company said last week it would eliminate 900 jobs and close several plants. The dollar and Trea- sury prices rose. Oil dropped 81 cents to $102.83 per barrel. 91