Stock market finishes lower after a strong week
BY Associated Press
Tuesday, November 27, 2012
11/27/12 at 4:12 AM
Wall Street came back to work after the Thanksgiving weekend and faced leftover worries about the "fiscal cliff" and the European debt crisis. Stocks retreated after one of their best weeks of the year.
The Dow Jones industrial average fell 42.31 points to 12,967.37.
Scott Carmack, co-portfolio manager at Leader Capital in Portland, Ore., said the decline was all but inevitable after last week, when the Dow climbed 3.3 percent because of encouraging signs from Washington and good economic news overseas. That apparently made Monday a good day to cash out on last week's gains.
"Monday is a good day to take profits," Carmack said. "No one was in on Friday, so they're doing it Monday."