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US stocks off, gold rises

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NEW YORK : Gold rose, treasuries headed for the biggest advance in five months and stocks fell as investors' focus returned to the US tax debate and Europe's debt crisis following the re-election of President Barack Obama. 

The 10-year Treasury yield declined as much as 12 basis points to 1.63 per cent Wednesday morning, US time.In early trading, the Dow Jones industrial average was down 240.30 points, or 1.81 per cent, at 13,005.38. The Standard & Poor's 500 Index was down 26.57 points, or 1.86 per cent, at 1,401.82. The Nasdaq Composite Index was down 55.58 points, or 1.85 per cent, at 2,956.36.The Stoxx Europe 600 Index lost 0.7 per cent after climbing as much as 0.7 per cent. Gold extended the longest rally in two...

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