Global stocks down on Wednesday

<p>Stock prices dropped around the world today.</p>

Global stock prices were down today (March 13th) and the euro dropped its value as well.

Data showing euro zone factory output performed poorly in January led to a negative outlook on Europe's economy, reports Reuters.

The Dow Jones industrial average was down 16.01 points, while the Nasdaq Composite Index was down 1.44 points and the Standard & Poor's 500 Index was down 0.31 points.

Italy had an impact on the global markets after selling 5.32 billion euros of new three- and 15-year government bonds, which "was a tad disappointing," said Neil Jones, head of hedge fund FX sales at Mizuho Corporate Bank.

He added: "I can understand the hesitancy (for Italian debt) and that is why the yields are higher and this has weighed on the euro as well."

The Dow hit yet another fresh record high yesterday and has been making solid gains for much of the year so far.

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