Stocks Fall Sharply As Greek Deal Is Held Up


Salon Staff
February 10, 2012 9:54PM (UTC)

NEW YORK (AP) — A holdup over a bailout for Greece is sending U.S. stocks lower.

The Dow Jones industrial average is down 119 points at midday, at 12,772. A triple-digit loss for the Dow on Friday would be its first this year. The Standard & Poor's 500 is down 11 points at 1,341, and the Nasdaq composite is down 21 points at 2,906.

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It appeared earlier this week that Greece had paved the way for an international bailout that it needs to avoid defaulting on its debt and sending a shock through the markets. But European leaders are demanding more budget-tightening.

Materials companies, like chemical and metal makers, are leading the market lower. But stocks are down across the board.


Salon Staff

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