Stocks stall as Moody's cuts Portugal debt rating
The Dow fell about 13 points, the S&P 500 lost 2 points, and the Nasdaq gained 10 points
Brendan McDermid / Reuters
Major indexes were mixed for much of the day but dipped in afternoon trading after Moody's downgraded Portugal's debt. The credit ratings agency cited concerns that Portugal will not be able to meet targets to reduce its deficit due to the "formidable challenges" the country is facing in cutting spending.
The number of stocks that rose was about the same as those that fell on the New York Stock Exchange. Trading volume was very light at 3.4 billion shares.