Business

Snapshot

Europe’s drama holds back the market

Advertisement

The Dow edged up, but the latest twists in ­Europe’s­ debt drama­ weighed on stocks, offsetting good news about US housing: Builders broke ground on more homes in January than expected. Investors focused on Cyprus, where lawmakers rejected a bank bailout that called for raiding ordinary citizens’ savings. That leaves help from international lenders in doubt; without external funds, the country’s banks could collapse and Cyprus might abandon Europe’s joint currency, the euro. Yet many investors were betting against worst-case scenarios; the European Central Bank’s chief has vowed the 17-nation currency union will survive.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com