Accounting fears hit shares

ACCOUNTING problems for drug-maker Merck and a weak quarterly report from aluminum producer Alcoa were among the factors pushing stocks lower at midday yesterday.

The Nasdaq composite fell 22.34 to 1,426.02. The Dow Jones industrial average lost 67.49 to 9,312.01. The Standard & Poor’s 500 lost 7.25 to 981.78.

Investors were paring some of the gains made in Friday’s holiday-shortened stock session.