Dow falls 97 points, worst showing this year
Wednesday, February 15, 2012
NEW YORK (AP) — Stocks slumped Wednesday in one of their worst showings this year as Greece, slogging through negotiations with other countries over a bailout, once again cast a long shadow over the financial markets.
The Dow Jones industrial average dropped 97.33 points to close at 12,780.95. It was the worst one-day decline for the Dow this year, and the index narrowly avoided its first triple-digit loss for the year. The average was down as much as 125 points.
The Standard & Poor’s 500 and the Nasdaq composite index climbed tentatively through the morning but gave up their gains by afternoon. The S&P fell 7.27 points to 1,343.23. The Nasdaq fell 16 points to 2,915.83.
The declines were broad, with nine of the 10 industry groups in the S&P recording losses. The only group that didn’t was materials, which was flat. Only five of the 30 stocks in the Dow rose for the day, and just barely.
Use the comment form below to begin a discussion about this content.
Please review our Policies and Procedures before registering or commenting