US STOCKS-Wall St slips after hefty rally, concerns linger

* Euro zone concerns nag after Monday’s huge rally

* U.S. wholesale inventories rise in March

* Dow off 0.3 pct, S&P off 0.3 pct, Nasdaq off 0.3 pct

* For up-to-the-minute market news see [STXNEWS/US]

(Updates to early morning)

By Leah Schnurr

NEW YORK, May 11 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) slipped on
Tuesday, easing from the previous session’s hefty gains as
concerns lingered about how Greece will get its budget deficit
under control.

The biggest winners from the previous session were among
Tuesday’s biggest losers, with the S&P financial index (.GSPF: )
giving up 0.8 percent, while JPMorgan Chase & Co (JPM.N: ) fell
0.8 percent to $41.61. Stocks scored their biggest one-day gain
in more than a year on Monday after European leaders agreed to
a $1 trillion emergency rescue package to stabilize the euro
zone currency.

But concerns about the high debt loads of some euro zone
nations remained. The International Monetary Fund said on
Tuesday that while Greece’s public debt is sustainable over the
medium term, persistent low growth, or even a moderate economic
jolt, could set back the country. For details, see
[ID:nN10120683]

“The overriding question has been, ‘When all is said and
done, can they cut their deficit in a meaningful way?'” said
Quincy Krosby, market strategist with Prudential Financial in
Newark, New Jersey.

The Dow Jones industrial average (.DJI: ) slipped 28.80
points, or 0.27 percent, to 10,756.34. The Standard & Poor’s
500 Index (.SPX: ) eased 3.61 points, or 0.31 percent, to
1,156.12. The Nasdaq Composite Index (.IXIC: ) was off 6.50
points, or 0.27 percent, to 2,368.17.

The S&P 500 gave up only a small amount of Monday’s more
than 4 percent gain, though declining stocks outpaced advancing
ones on the New York Stock Exchange by 2 to 1.

On the heels of last week’s dramatic intraday plunge in
U.S. markets, an agreement to adopt new, market-wide circuit
breakers to halt extreme drops in individual stocks is “a done
deal,” a source told Reuters. [ID:nWEN4573]

On the economic front, data showed U.S. wholesale
inventories rose for a third straight month in March to their
highest in eight months. [ID:nN11268623]

Investing Analysis

(Editing by Padraic Cassidy)

US STOCKS-Wall St slips after hefty rally, concerns linger