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Wall Street slips on global growth worry

 Stock market fell slightly on Wednesday after a downgrade of Portugal's credit rating, China's interest rate rise and a soft report on the U.S. services sector sparked jitters about global growth prospects.

The downgrading of Portugal's credit rating to "junk" by Moody's shocked financial markets and cast new doubt on European efforts to rescue distressed euro zone states without debt restructuring.

China's central bank increased interest rates for the third time this year on Wednesday, making clear that taming inflation is a top priority as its economy gently slows.

The Institute for Supply Management services index showed the pace of growth in the U.S. services sector dipped modestly in June, while prices paid fell sharply to its lowest level since August 2010.

"The combination of China raising rates and this services report is kind of giving the market some pause," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.

The S&P 500 has been fluctuating in a range from about 1,250 to 1,350 for the last several months, with flare-ups in the euro zone debt crisis often serving as a catalyst for profit-taking.

"It's kind of a cumulative effect. You don't have good economic data coming out here, you don't have the earnings reports flowing and all of a sudden bad news comes from Europe. It all kind of brings the market down," said Jankovskis.

The Dow Jones industrial average (DJI:^DJI - News) dropped 21.01 points, or 0.17 percent, to 12,548.86. The Standard & Poor's 500 Index (^SPX - News) dropped 6.30 points, or 0.47 percent, to 1,331.58. The Nasdaq Composite Index (Nasdaq:^IXIC - News) dropped 12.00 points, or 0.42 percent, to 2,813.77.

Volume has been light, a trend expected to continue in the holiday-shortened week and to add to volatility. Markets were closed on Monday for U.S. Independence Day.

Banks were among the worst performers, with the KBW Bank index (Philadelphia:^BKX - News) off 1.3 percent and S&P financial sector index (^GSPF - News) down 1.2 percent. JPMorgan Chase & Co (NYSE:JPM - News) fell 1.9 percent to $40.25.

Reflecting concerns about the euro zone debt crisis, the iShares MSCI Italy index (Pacific:EWI - News) and the iShares MSCI Spain index (Pacific:EWP - News) both lost more than 3 percent

The Netherlands moves to ban kosher butchering; a Jew reads Christian novels

Follow Tablet Magazine: July 6, 2011   Anchored How Israel thwarted the second Gaza flotilla Daybreak: U.N. Slams Israel Over Nakba Day Plus the little boat that can't, and more in the news More from THE SCROLL Kosher Rules The Dutch parliament moved last week to prohibit the ritual slaughter of animals, putting the notoriously tolerant Netherlands on a path to ban a practice key to both Jewish and Muslim observance BY LAUREN COMITEAU It's 5:30 in the morning on a late-June Monday, and Motty Rosenzweig, 45, has already sharpened his knives for another day's work. The only kosher slaughterer, or shochet, in the Netherlands, he kills approximately 3,000 calves, sheep, and cows yearly for the kosher-observant population in this country of about 50,000 Jews, 6,000 of whom are estimated to be Orthodox. His employer, the Jewish Community of Amsterdam, rents a windowless space within a larger slaughterhouse in the west of the city. When Rosenzweig closes up shop in the afternoon, a halal slaughterer will take his place. More Of the Books After Amazon started recommending Christian novels for me, I gathered a group of Jewish friends to explore them and discovered an unexpected reconnect with spirituality More BY TAMAR FOX This email was sent to you by Tablet Magazine. To ensure delivery to your inbox, please add digest@tabletmag.com to your address book. To unsubscribe to this email, reply to this email with "Unsubscribe" in the subject line. Tablet Magazine | 37 West 28th Street, 8th floor | New York, NY 10001 Unsubscribe | Forward to a Friend

July E-News: Asia's Top 7 Nature Destinations

Indonesia | Sri Lanka | Far East and Pacific | Blue Whale Video View this message online. 7 Asian destinations to tour with WWF From the "Pearl of the Indian Ocean" to the "Land of the Thunder Dragon," WWF Travel has Asia's top nature destinations covered -- including a few spots we've never visited before! Indonesia October 10 - 23, 2011 Snorkel at some of the planet's most stunning reefs, in the Raja Ampat Archipelago, on a small-group, ship-based trip. India December 9 - 22, 2011 & March 16 - 29, 2012 The vibrancy of India's cities contrasts with well-protected wildlife habitat where tigers, rhinos and kingfishers (among others) reside. The Maldives December 17, 2011 - January 3, 2012 A spectacular Southern Indian Ocean voyage takes you to the smallest country in Asia, plus coastal India and nearby islands. The Philippines January 31 - February 14, 2012 An experience of a lifetime: Two guided opportunities to swim with whale sharks in the Bay of Donsol. Sri Lanka March 10 - 24, 2012 The "Pearl of the Indian Ocean" is home to blue whales, elephants and leopards -- all of which we'll search for on this new tour. China May 27 - June 7, 2012 Observe pandas in natural settings, tour national parks and see cultural highlights in the country's modern and historic cities. Bhutan November 16 - 26, 2012 With so many preserved forests, it's no wonder the "Land of the Thunder Dragon" is considered the happiest nation on the planet. A portion of your tour cost (between 5% and 10%) for the WWF Travel Program is directly contributed to WWF's general fund to support conservation work around the world. Say 'namaste' to Asia Natural Habitat Adventures knows that the Far East and Pacific are home to some of the most incredible wildlife and natural settings. NHA provides WWF members with even more opportunities to visit the region, including New Zealand, Papua New Guinea and Nepal. Nepali man says hello. © SandeepSubba | Dreamstime.com Between $24 and $160 of the retail price per traveler for Natural Habitat Adventure tours is received by WWF for a minimum annual amount of $152,000 and a maximum annual amount of $210,000. WWF Travel Blog A heart the size of a small car The endangered blue whale is full of contradictions. It's the largest animal that has ever lived on Earth, yet it's quite timid. Its heart is the size of a small car, but it feeds on tiny krill. Watch a video of blue whales off the coast of Sri Lanka, on our blog. Blue whale fluke © naturepl.com/Mark Brownlow/WWF You choose the winners! We combed through the nearly 10,000 fantastic photos submitted to the WWF Life Grows On photo contest and have selected 50 finalists in each category. Now it's your turn to pick the winners! Through July 15, vote once a day for your faves (and have a chance to win a WWF prize). WWF TRAVEL ON FACEBOOK Become a fan of the WWF Travel Program Header photo, Kenyan zebras © Erico Hiller

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