Closing Bell

Stocks ended mixed Wednesday as concerns that Ireland will need outside help to repay its debts were coupled with a steep drop in housing construction in the U.S.
Global stock markets have been rattled over the past week out of fear that Ireland will become the next European country to need a bailout. Greece was rescued in May after it became unable to contain runaway spending and lost the confidence of investors. Ireland is now struggling after a collapse in its housing market forced the country to take over three large banks. Retail stocks were among the few industries that posted gains. Target Corp.'s shares rose 3.9 percent after reporting earnings that beat analysts' forecasts. Competitors Costco Wholesale Corp., Macy's Inc. and J.C. Penny Co. each rose by 2 percent or more. Bond prices traded in a tight range. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.87 percent from 2.85 percent late Tuesday. Its yield is used as a benchmark for interest rates on mortgages and other consumer and corporate loans. The dollar fell 0.2 percent against an index of six currencies.