Markets slide as Geithner meets Draghi

U.S. stock indexes sank Monday as momentum from last week's upswing slowed to a crawl early, then slid backwards. U.S. Treasury Secretary Timothy Geithner met with German Finance Minister Wolfgang Schauble and European Central Bank President Mario Draghi. Last week's Thursday and Friday rally was prompted by remarks from Draghi and others that the ailing euro would be preserved. By close of trading on Wall Street, the Dow Jones industrial average, shed 2.88 points or 0.02 percent to 13,073.01. The Standard and Poor's 500 index, lost 0.67 points or 0.05 percent to 1,385.30. Tech-heavy Nasdaq composite index gave up 12.25 points or 0.41 percent to 2,945.84. On the New York Stock Exchange, 1,479 stocks advanced and 1,550 declined on a volume of 3 billion shares traded. The benchmark 10-year treasury note rose 16/32 to yield 1.497 percent. The euro fell to $1.2254 from Friday's $1.232. Against the yen, the dollar fell to 78.19 yen from 78.45 yen. In Tokyo, the Nikkei 225 index rose 0.8 percent, 68.80, to 8,635.44. In London, the FTSE 100 index added 1.18 percent, 66.42, to 5,693.63.