As debates continued on the Cyprus bank affair, U.S. stocks rose today, though markets were still slightly down for the week.
After a brief rise yesterday, U.S. stocks today fell, as concerns about Europe and its debt crisis continued to weigh on the minds of investors.
Today, the Federal Reserve announced it will maintain its practice of buying bonds to stimulate the economy, and stocks rose in response.
As Cyprus rejected an unpopular bank levy, fear about Europe’s debt crisis managed to increase, sending U.S. stocks down for the day.
A levy to be imposed on banks in the European island of Cyprus renewed fears on the euro zone’s debt crisis, causing investors some concern and triggering falling stocks in the United States today.
Reports of a decline in March’s consumer confidence levels contributed to a fall in stocks today, snapping the Dow’s ten-day streak of daily growth.