News Journal

U.S. indexes lower on recession reports

European stocks were at a low after reports of mining companies and insurers were released. The company BHP Billiton Ltd withdrew from its takeover deal of Rio Tinto Group. U.S. indexes were down after the reports of deepening recession were released.

One of the largest insurance companies of Europe, Axa SA made a low profit forecast and the company informed that it’s earning targets of 2012 was becoming superseded.