Declines in US stock market moderate

Associated Press
Trader John Santiago works on the floor of the New York Stock Exchange Monday, Jan. 27, 2014. Shaky economies and currencies in emerging markets are prompting more declines in global markets, following a rout last week (AP Photo/Richard Drew)

NEW YORK (AP) — Stocks are slightly lower on Wall Street, moderating their losses after a rout last week.

Industrial stocks were among the few winners after heavy-equipment maker Caterpillar reported a surge in earnings for the fourth quarter.

The Dow Jones industrial average fell 44 points, or 0.3 percent, to 15,837. The Standard & Poor's 500 index fell eight points, or 0.5 percent, to 1,781. The Nasdaq composite fell 44 points, or 1.1 percent, to 4,083.

Investors were encouraged by signs of stability in Argentina and Turkey, two of the emerging markets that got slammed last week. There have also been concerns that China's economic engine is slowing down, potentially dragging other developing countries along with it.

Asian markets slumped. European markets fell slightly.