US stocks drop on Greece worries

Philippine Times (IANS) Friday 10th February, 2012

US stocks dropped Friday as Greece's crucial international bailout was put on hold by eurozone finance ministers.

Eurozone finance ministers said Greece had to save an extra $430 million in order to be granted bailout funds, while Greek workers staged a nationwide strike against the new austerity plan, Xinhua reported.

On the economic front, the Commerce Department said that US trade deficit widened to $48.8 billion in December, hitting the highest level since July 2008.

In midday trading, the Dow Jones industrial average lost 103.69 points, or 0.80 percent, to 12,786.77. The Standard Poor's 500 fell 9.26 points, or 0.68 percent, to 1,342.69. The Nasdaq Composite Index dropped 18.30 points, or 0.63 percent, to 2,908.93.

Share this article:
  • Google
  • Twitter
  • Facebook
  • LinkedIn
Back to Philippine Times

Comments

  • No comments yet for this story

    • Have your say

    • CAPTCHA Image

    • By submitting your comment you agree to our terms and conditions

    Featured Story

    Soldier, two rebels killed in Philippines

    A soldier and two New People's Army (NPA) rebels were killed in a clash in Canlaon City in the central Philippine province of Negros Oriental, a military spokesman reported Sunday.

    Soldiers ...

    News Survey

    Do you agree with U.S. President Barack Obama's support for gay marriage?

    View results

    On Facebook

    Making headlines

    Four days ago marked two decades since Ratko Mladic became the commander of the main staff of the army of Republika Srpska - the VRS. On that day, Mladic began his full participation in a criminal endeavour that was already in progress. On that day, he assumed the mantle of realising through military might the criminal goals of ethnically cleansing much of Bosnia. On that day he commenced his direct involvement in serious international crimes.

    Dermot Groome

    The prosecuting counsel of the War Crimes tribunal convened to hear charges against Gen. Ratko Mladic was making his opening comments at the hearing.