U.S. stocks slumped on Tuesday with a bit of positive news about economic growth and the sluggish quarterly reports, particularly from drug giant Pfizer.
Dow Jones Industrial Average ended almost unchanged at 12,087.51, but the broader market indicator, the S & P 500, fell 4.60 points (0.34 percent) to 1356.62, while the Nasdaq composite index of technology stocks fell 20.22 points (0.71 percent) to 2841.62.
The stock market followed the other markets go down - the dollar, oil, gold and silver all fell.
"The most disappointing corporate earnings inhibit` bull `(passion), compounded by uncertainty about whether the policy makers in Washington will approve a plan to address the fiscal problem facing the U.S.," said analysts at Charles Schwab.
Before the market opened, Pfizer, the world's largest drug maker, reported first-quarter profit soared 10 percent, slightly above analysts' estimates, but lower sales from the prior year period and failed to meet market expectations.
Pfizer shares closed down 2.8 percent at 20.44 dollars, reported AFP.
The market-European major stock markets ended varied on Tuesday, with stocks in London noted a `` rally in late trade to end the first day after vacation of four days with a small profit.
The main indicators of the London Stock Exchange's FTSE 100 index ended up 0.21 percent at 6082.88 points.
The market closed on Friday for the British royal wedding celebration, and on Monday for regular bank holidays.
In Paris, the CAC 40 index suffered its first decline after eight sessions recorded increases, shrank 0.29 percent to 4096.84 points.
In Frankfurt, the DAX fell 0.36 percent to 7,500.7 points.
French and German shares have risen on Monday in reaction to the announcement that U.S. commandos have killed al-Qaeda leader Osama bin Laden, so traders look for risky assets and consider the possibility of its influence in reducing
instability in the world, especially in the Middle East.
But it faded on Tuesday.
"Investors in fashion to avoid the risk after the market very happy yesterday in reaction to the death of Osama bin Laden by U.S. special forces," said analyst Kathleen Brooks at Forex.com trading site.
"Today's lower stock and currency at the end of the spectrum at higher risk of FX which has come under pressure as investors remained outside the market."
In a dramatic announcement, the White House said on Sunday that U.S. forces had killed the leader of Al-Qaeda mastermind behind the attacks of 11 September 2001, in a secret complex in Pakistan.
"The death of Bin Laden does not have clear implications for the market in my view and I do not believe that his death means the reduction of risk premium, although initially react spontaneously," said economist VTB Capital, Neil MacKinnon.
On Thursday, investors' attention will return to the eurozone interest rate decision and the UK.
European Central Bank is expected to maintain its key interest rate at 1.25 percent, but may indicate further increases amid rising prices at the 17-nation eurozone.
And the Bank of England (UK central bank) is expected to maintain key lending rate at a record low 0.50 percent amid flat economic growth.
Market observers remain worried that the euro zone debt crisis may threaten Spain, immediately after the bailout for Greece and Ireland, and negotiations on the rescue for Portugal.
"The stock market is looking a bit depending on this morning," GFT analyst David Morrison said on Tuesday.
"Any assistance is attached to the death of bin Laden has disappeared, and instead we are looking for a new catalyst to push the market higher."
"Equity is difficult because the traders are forced to deal with debt problems faced by the euro zone," he added.
Elsewhere in Europe, Milan fell 0.37 percent, Madrid lost 0.48 percent, Swiss shares gave up 0.52 percent, down 0.63 per cent of Lisbon, and Brussels fell 0.67 percent. Amsterdam grew 0.32 percent.
U.S. stocks mixed 16:00 GMT as investors focus on U.S. economic prospects and a pile of digested earnings reports are varied and falling energy prices.
Dow Jones Industrial Average rose 0.23 percent to 12806.38 points.
The Nasdaq composite stock index fell 0.49 percent technology to 2859.30 points while the S & P 500 index, a broader market size, slumped 0.13 percent to 1359.76 points.
"Traders who ponder what lies ahead for the economy because global central bank monetary policy is diverging and the U.S. fiscal issues continue to haunt the Capitol Hill," said analysts at Charles Schwab in a client note.
In earlier trading on Tuesday, Asian stocks also enjoyed a variety of performance amid gloom over European debt after Wall Street failed to provide any inspiration despite the rise in the beginning because the news that bin Laden is dead.
Sydney fell 0.84 percent and Seoul fell 1.27 percent, while Hong Kong's move into positive territory. Tokyo was closed for the first day of a three-day holiday, according to AFP.
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