Stock market has its worst week since June

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Associated Press

Posted on October 12, 2012 at 2:00 PM

Updated Friday, Oct 12 at 2:02 PM

The stock market is closing out its worst week since early June after the first round of U.S. corporate earnings reports failed to get investors excited.

Major indexes closed little changed on Wall Street Friday.

The Dow Jones industrial average managed a gain of just two points to close at 13,329 after spending most of the day slightly lower.

The Standard & Poor's 500 lost four to close at 1,429 and the Nasdaq composite fell five points to 3,044.

All three indexes are down at least 2 percent for the week, the biggest weekly declines since early June. Banks fell after Wells Fargo missed analysts' revenue estimates.

Falling stocks outnumbered rising ones nearly two-to-one on the New York Stock Exchange. Volume was slightly lighter than average at 3 billion shares.

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