US stocks lower in afternoon trading

U.S. stocks traded lower Thursday on concerns about the global economy, analysts said. The Dow Jones industrial average was down 41.40 points, or .33 percent, to 12,563.13 in early afternoon trading. The Standard & Poor's 500 index was off 8.63 points. or .64 percent. to 1,332.51. The Nasdaq composite was down 31.66 points, or 1.10 percent, to 2,856.32. Analysts said technology and financial stocks led the decline. A Labor Department report that showed initial jobless claims hit a 4-year low last week did little to boost the market. The benchmark 10-year U.S. treasury note was trading up 11/32, with the yield falling to 1.486 percent. The euro hit a two-year low Thursday, sliding to $1.2198 against the U.S. dollar. Against the yen, the dollar fell to 79.72. In Tokyo, the Nikkei 225 index fell 130.9 points, or 1.48 percent, to 8,720.01. In London, the FTSE 100 was down 56.23, or 0.99 percent, to 5,608.25.