Stocks End Lower; Europe Worries Resurface

U.S. stocks ended lower, but well off the day’s lows, on Thursday, as a decision by one of Portugal’s biggest banks to delay a debt payment reminded investors of the fragility of Europe’s banking system. The Dow Jones Industrial  Average dropped 70.54 points, or 0.42%, to 16,915.07. The S&P 500 was down 8.15 points, or 0.41%, to 1,964.68.  The Nasdaq Composite lost 22.83 points, or 0.52%, to 4,396.20.

Carl Icahn said on Thursday that it is time for investors to tread carefully after the run-up in U.S. stock markets.

It is not clear that breaking up the largest banks would end the need for government bailouts of the financial
sector, said Stanley Fischer, the new vice-chairman of the Federal Reserve, on Thursday.

United Auto Workers leaders said Thursday they have reached a “consensus” with Volkswagen and expect the German automaker to recognize the union if they sign up enough workers at a new local for the company’s assembly plant in Tennessee.