Stocks Fall Sharply As Greek Deal Is Held Up


Salon Staff
February 11, 2012 2:18AM (UTC)

NEW YORK (AP) — Stocks are closing their worst day this year after Greece hit a roadblock on its way to a critical bailout.

The Dow Jones industrial average is finishing down 89 points, or 0.7 percent, at 12,801. The broader Standard & Poor's 500 is down nine points to 1,343. It is the first losing week for the index this year.

Advertisement:

The Nasdaq composite is closing down 23 points at 2,904.

Stocks fell all day on news that European finance ministers were insisting that Greece cut even more in wages and spending if the nation hopes to get bailout money to pay its creditors.

Three stocks fell for every one that rose Friday on the New York Stock Exchange. Volume was light with just 3.5 billion shares trading hands.


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •