US stocks were mixed to lower in a volatile session on Tuesday on uncertainty over a financial bailout for Spain and as investors worried about disappointing third-quarter US earnings. The Dow was pressured by stocks closely tied to the pace of growth, including Caterpillar Inc and Boeing Co. A major headwind for the global economy has been falling demand from Europe, which has been drifting toward recession.
Spain was said to be ready to ask the euro zone for help, but Prime Minister Mariano Rajoy said a request wasn't imminent. In addition, Germany has signalled that Madrid should hold off on making its request, according to European officials on Monday. The S&P rose nearly 6 percent in the third quarter, lifted by accommodative moves by the Federal Reserve and European Central Bank, which market participants bet would boost flagging growth.
The Dow Jones industrial average was down 55.86 points, or 0.41 percent, at 13,459.25. The Standard & Poor's 500 Index was down 1.26 points, or 0.09 percent, at 1,443.23. The Nasdaq Composite Index was up 0.16 points, or 0.01 percent, at 3,113.69. The Dow and S&P 500 extended losses and the Nasdaq turned negative, with weaker-than-expected results from Mosaic adding to worries about the upcoming third-quarter earnings period. Mosaic tumbled 3.9 percent to $55.77 as one of the S&P's biggest percentage decliners after earnings and revenue missed expectations.
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