Dow finishes 1.3% lower on Wednesday

Dow Jones Industrial Average index lost ground on Wednesday as investor sentiment was ruined by developments in European troubled countries. Blue chip index slipped 1.28% or 160.83 points and finished at 12,419.86. 29 of 30 index's stocks posted loss. Economy linked shares fell most. Aluminium giant Alcoa dropped 3.5% and oil provider Chevron gave up 2.6%. Financial shares of Bank of America followed their European peers and diminished by 3.2%.