Investors shrug off Cyprus turmoil

Investors in the US are taking the latest turn in Europe’s financial drama in their stride.

US stocks recovered most of an early loss yesterday and ended little changed, even after politicians in Cyprus rejected the terms of a highly unpopular bailout plan that would have called for raiding the bank accounts of ordinary Cypriots.

The Dow Jones industrial average closed up three points, less than 0.1%, at 14,455. It had been down as much as 70 in the afternoon.

Other indexes closed slightly lower. The Standard & Poor’s 500 index lost three points, 0.2%, to 1,548. The Nasdaq composite lost eight points, or 0.3%, to 3,229.

Three stocks fell for every two that rose on the New York Stock Exchange. Volume was slightly heavier than usual, 3.7 billion shares.

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