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Dow falls 97 points, worst showing this year

Dow falls 97 points, worst showing this year

February 15th, 2012 in News

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.