Wall Street dips off five-year highs after Europe, Japan data
NEW YORK (Reuters) – Stocks dipped on Thursday after traders cashed in some of their recent gains following weaker-than-expected economic growth data from Europe and Japan, though declines were limited by news on mergers and acquisitions. A contraction of 0. 6 percent in gross domestic product in the euro zone was the steepest for the bloc since the first quarter of 2009, while Japan’s GDP shrank 0. 1 percent in the fourth quarter, crushing expectations of a modest return to growth. The persisting weakness in Europe and its implications for global growth and U. S. . . .
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