Wall Street dips, but logs best quarter in a year

Wall Street wrapped up its best quarter in a year with the S&P and Nasdaq logging in the biggest monthly gains since April 2009, as data showed the economy isn't in such bad shape.

The Dow Jones industrial average slipped 47.2 points, or 0.4 percent, to 10,788.05. The Standard & Poor's 500 Index declined 3.5 points, or 0.3 percent, to 1,141.20. The Nasdaq Composite Index fell 7.9 points, or 0.3 percent, to 2,368.62.

European shares also fell for the fourth straight session with investors locking in profits after the best quarterly gains in a year following strong economic data from the United States.

The pan-European FTSEurofirst 300 index of top shares closed 0.4 percent lower at 1,060.92 points in a choppy session, after the index hit a high of 1,078.21.

Japan's Nikkei average slid 2 percent hit by a late yen rise, but still booked its best monthly performance in six months, helped by hopes the central bank will ease policy further and that the yen's rapid advance could be curbed by more intervention by the authorities.

But the benchmark edged down 0.1 percent for the quarter, sharply lagging other major world indexes.