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News Summary: Stocks retreat on Europe, earnings

Source : AP
Last Updated: Thu, Feb 07, 2013 23:00 hrs

: Stocks slumped on Wall Street Thursday, and the rally which pushed indexes close to record levels stalled.

EUROPE REDUX: Concerns about the outlook for Europe's economies resurfaced following comments from European Central Bank chief Mario Draghi. He said risks remained on the "downside," and that he'd be keeping an eye on the euro and any impact its strength was having on the euro-region economies.

FALLEN IDOL: Media conglomerate News Corp., which counts "American Idol," and "The Simpsons," among its shows, fell 2.3 percent to $27.56 after it said that underperformance at several businesses including its Fox broadcast network would offset a gain in earnings in the most recent quarter.

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