US market stalls amid accounting concerns

Wall Street’s hope for a rebound fizzled today, with investors drawn to the stock market’s relatively cheap prices but hesitant amid continuing questions about accounting practices. Stocks fluctuated throughout the session before closing modestly lower.

Analysts said investors were held back by fears that other companies might be vulnerable to bookkeeping scandals like Enron’s. News that Congress was unlikely to pass an economic stimulus package also dampened investment.