US stocks down before Italian long term debt auction

© Scanpix/AFP

US stock markets experienced a decline on Wednesday as investors were concerned about forthcoming Italian 10-year bond auction on Thursday. Italian 10-year borrowing costs currently are fluctuating near 7%. Dow Jones Industrial Average lost 1.1% or 139.94 points at 12,151.41. S&P 500 Index and Nasdaq Composite fell 1.3% or 15.79 and 35.22 points to 1,249.64 and 2,589.98 respectively.