Wall Street declines, Nasdaq turns lower

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November 15, 2012 2:42 AM EST

Stocks fell on Thursday, erasing earlier gains that came on strong results from Cisco Systems .

While shares of Cisco stayed sharply higher, all three major indexes fell, continuing a recent trend where equities have been unable to hold onto early gains amid concerns about impending U.S. budget discussions and a debt crisis in Europe.

The Dow Jones industrial average <.DJI> was down 52.68 points, or 0.41 percent, at 12,703.50. The Standard & Poor's 500 Index <.SPX> was down 4.67 points, or 0.34 percent, at 1,369.86. The Nasdaq Composite Index <.IXIC> was down 3.25 points, or 0.11 percent, at 2,880.64. (Reporting by Ryan Vlastelica; Editing by Bernadette Baum)

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Copyright 2012 Thomson Reuters. All rights reserved.

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