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NEW YORK?(CNNMoney) -- U.S. stocks were little changed Tuesday, following a bruising previous session, as fears about the eurozone debt crisis spreading continued to rattle investors.
The Dow Jones industrial average (INDU) rose 15 points, or 0.1%, with American Express (AXP, Fortune 500), Travelers Companies (TRV, Fortune 500) and Cisco (CSCO, Fortune 500) leading the small advance.
The S&P 500 (SPX) gained 1 point, or 0.1%, and the Nasdaq composite (COMP) fell 5 points, or 0.3%.
Microchip (MCHP)'s stock dragged on both the S&P 500 and the Nasdaq, as the tech firm's shares slumped 13%. The company lowered its earnings guidance, saying supply disruptions resulting from the Japanese earthquake were impacting its automotive business.
U.S. stocks tumbled Monday, as investors got spooked by worries about how far and deep Europe's debt crisis might spread.
Manoj Ladwa, senior trader at ETX Capital, said contagion fears are likely to stay center stage for investors on Tuesday.
"That's the main concern for the markets," Ladwa said. "Exactly how far this crisis is going to spread."
The yield on 10-year Italian bonds continued to spike, as investors demand higher interest rates in exchange for holding the country's debt. On Tuesday, yields approached 6% -- an elevated premium over the German bund.
Ladwa said yields will rise even higher if the stress tests scheduled for European banks come back worse than expected, and the Italian 10-year bond could spike above 7% if the country's banks perform poorly.
World markets: European stocks fell in afternoon trading. Britain's FTSE 100 shed 0.8%, the DAX in Germany retreated 0.6%, and France's CAC 40 stumbled 1%.
Asian markets ended the session sharply lower. The Shanghai Composite dropped 1.7%, the Hang Seng in Hong Kong tumbled 3.1% and Japan's Nikkei lost 1.4%.
U.S. Treasuries: Investors have been pouring into U.S. Treasuries as uncertainty surrounding Europe's debt problems grows. Treasuries are considered "safer" havens in times of uncertainty since it's backed by the U.S. government.
The price on the benchmark 10-year note rose, pushing the yield down to 2.88% from 2.92% late Monday.
Currencies and commodities: The dollar hit a nearly four-month high against the euro at $1.39. The greenback also gained against the British pound, but fell versus the Japanese yen.
Oil for August delivery slipped 50 cents to $94.65 a barrel.
Gold futures for August delivery rose $2.80 to $1,552 an ounce.
Economy: The U.S. trade balance figures for May came in at $50.2 billion -- far larger than a revised $43.6 billion in April. The trade deficit was also wider than the $44 billion expected by economists surveyed by Briefing.com.
In the afternoon, the Federal Reserve's will release the minutes from its Federal Open Market Committee meeting in June.
Companies: News Corp.'s (NWSA, Fortune 500) stock jumped 2% after the media giant announced a $5 billion stock buyback program.
Adding to the tech sector's pain, shares of Novellus Systems (NVLS) fell 8%, after the company delivered disappointing quarterly results and guidance.
After the closing bell Monday, Alcoa (AA, Fortune 500) reported a larger than expected gain in second-quarter sales but investors weren't impressed.
While Alcoa beat on sales, earnings were only in line with recently lowered analyst estimates. Shares slid 0.3% in early trading.
First Published: July 12, 2011: 9:39 AM ET
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