Dow Jones extends decline as European debt fears return

Dow Jones Industrial Average index prolonged losses on Wednesday, pressed by financial stocks which responded negatively to the developments in Europe. Additional downside effect came from a decline in commodity prices. Blue chip index tumbled 0.95% or 124.80 points and settled at 13,074.75 with 26 of 30 shares posting losses. Bank of America shed 3% while JP Morgan pulled back 2.2%. Aluminium provider Alcoa declined 2.5% as metal prices continued to fall sharply.