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10B Daily News – Tuesday, September 11, 2012 NEW YORK (AP) — Stocks slipped on Wall Street as troubling eco- nomic news from China and the U.S. outweighed optimism about more stimulus from the Fed- eral Reserve. The Dow Jones industrial average fell 52.35 points to close at 13,254.29 on Monday. The Standard & Poor's 500 slipped 8.84 points to 1,429.08 and the Nas- daq composite fell 32.40 points to 3,104.02. Stocks end lower ahead of Fed meeting Wall Street The S&P 500 and Nasdaq were dragged down more than the Dow by a drop in Apple's stock, the largest component of both indexes. Apple, which is expected to announce its new iPhone on Wednesday, fell $17.70, or 2.6 per- cent, to $662.74. The stumble marks a pause in a rally last week that took the Dow and the S&P 500 to their highest levels in more than four years. Stock markets rose around the world last week after the European Central Bank announced a long-anticipated plan to support struggling countries in the Euro- pean Union. Investors are hopeful that the Fed will act this week to support the U.S. economy. The monetary policymaking body of the Federal Reserve meets on Wednesday Through the Newspapers in Education program, area classrooms receive the Red Bluff Daily News every day thanks to the generosity of these local businesses & individuals. THANK YOU FOR SUPPORTING NEWS DAILY RED BLUFF TEHAMACOUNTY E VOICE OF TEHA M A C O U N T Y S I N C E 1 8 8 5 NEWSPAPERS $50 $ SAVE FROM and Thursday. Many anticipate a third round of bond purchases or other support for the financial system. Federal Reserve chairman Ben Bernanke indicated in a speech last month that the cen- tral bank is inclined to provide new stimulus to the U.S. economy if it's needed. government reported weak growth in jobs last month, heightening the case for more stimulus. There have also been new signs that manufac- turing and construction are slowing down. On Monday, the Fed also reported that Amer- icans cut back on their credit card use in July for the second straight month, suggesting many remain cautious in the Since the speech, the With This Coupon TO 150 Storewide Sale Flippable Mattress FACTORY MATTRESS OUTLET (since 1920) 3650 Main St. in Cottonwood 347-3646 • FREE Delivery • FREE Take-Out Open 7 Days THE • THE GOLD EXCHANGE • LUIGI'S PIZZA • RED BLUFF AUTO DISMANTLING • OLIVE CITY QUICK LUBE • WALMART • ADOBE ROAD CHEVRON • CORNING AUTO CENTER • DM TECH HIGH SPEED INTERNET • GARCIA CONSTRUCTION • INTER-CITY BODY & PAINT • NORTH MAIN AUTOMOTIVE • RANCHO GRANDE RESTAURANT • SCHOOL HOUSE MARKET • TEHAMA CO. DEPT. 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Total borrow- ing dipped $3.3 billion in July from June to a seasonally adjusted $2.705 trillion. ''The economy is not going through a nose- dive, so I'm not sure we need another stimulus,'' said John Manley, chief equity strategist at Wells Fargo Advantage Funds. ''But Bernanke would rather make a mistake going in early with stimulus than not, especially since the markets will not tolerate inaction.'' There were also dis- couraging news out of China, giving investors more reason to worry that one of the most important engines of the global economy is sput- tering. Auto sales growth slowed in August and imports shrank unexpectedly. Factory output also slid to three-year low last month. The Chinese president warned growth could slow fur- ther. Among stocks that made big moves: — Sprint Nextel climbed 2.4 percent after the country's third- largest cellphone com- pany was upgraded by an analyst, who said the company's ongoing net- work revamp would save it money. The stock rose 12 cents to $5.15. — LeapFrog Enter- prises dropped 80 cents, or almost 9 percent, to $8.35. The educational toy maker's LeapPad product will face new competition from Toys R Us, which announced plans to launch its own tablet computer aimed at children next month. — American Interna- tional Group fell after the U.S. government said Sunday it was sell- ing shares in the insurer that would decrease its holdings below a major- ity stake for the first time since the bailout of AIG in 2008. AIG's stock lost 69 cents, or 2 percent, to $33.30. — Shares of Geron Corp. plunged 56 per- cent after the company announced two setbacks for its experimental can- cer drug. Geron has ended one study and does not expect the drug to succeed in a second. Its stock fell $1.62 to $1.28. 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