U.S. stocks ended lower on Tuesday, after Ireland's credit rating was cut by Moody's Investors Services, serving as a reminder of Europe's ongoing debt troubles. In world markets, European stocks finished lower, with the declines led by the FTSE 100 falling 1 percent. Asian markets also ended lower, with the declines led by Hang Seng in Hong Kong tumbling 3.1 percent. In U.S. economic news, the U.S. trade balance figures for May came in a $50.2 billion—far larger than the $43.6 billion in April. The trade deficit was also wider than the $44 billion expected by economists. The U.S. dollar rose versus the euro but fell versus the yen. Light sweet crude oil for August delivery rose $2.28 to $97.43 a barrel on the New York Mercantile Exchange. Gold futures rose $13.10 to $1,562.30 an ounce. The Dow Jones industrial average fell 58.88, or 0.5 percent, to 12,446.88. Boeing and Intel were among the worst performers on the index. The broader Standard & Poor's 500 index fell 5.85, or 0.4 percent, to 1,313.64. The technology-heavy Nasdaq composite index fell 20.71, or 0.7 percent, to 2,781.91.
