Mon, May 28, 2012, 8:44 PM EDT - U.S. Markets closed for Memorial Day

US stocks fall as Greek talks lumber; Apple falls

Stocks slump on Wall Street as Greek debt deal inches along

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NEW YORK (AP) -- Stocks have slumped in one of their worst showings this year.

Greece once again cast a long shadow over the financial markets as that country slogs through negotiations over a bailout.

The Dow Jones industrial average ended down 97 points at 12,781. The Dow barely missed its first triple-digit loss this year. It's still the worst decline for the Dow in 2012. The average was down as much as 125 points during the day.

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 seven points Wednesday to 1,343. The Nasdaq fell 16 points to 2,916.

Declining stocks outnumbered gainers by about 4-to-3. Volume was about average at 4 billion shares on the New York Stock Exchange.

 
  • David  •  3 months ago
    The news is no QE3, the only thing driving this market has been cheap money.
  • 2012Correction  •  3 months ago
    Seriously. Stop using Greece as the excuse for every single market move. It's getting old, fast. The Market is moving because the Fed minutes were plagued with uncertainty.
    • Gary in Texas 3 months ago
      No , they are waiting for QE-3 !! Feed the monkey and watch him s#it !!!
    • Jose Margarita 3 months ago
      The headline should be "market needed a pullback"...
    • endless 3 months ago
      We’re kicking the can down the road. THERE IS NO FIX
  • Cuddles  •  3 months ago
    The tide comes in and then goes out. Day trading, shorting stocks, insider transactions and just normal movement. If you think the market is going to just keep soaring think again.
    • Judy 3 months ago
      60 Minutes reported that computers are now managing the stock market. Am I crazy to think that it is a terrible situation to have a machine have this power?
  • billy  •  Wausau, Wisconsin  •  3 months ago
    He said it all right there...'Its not even the meat of the story,,it's the headline". The stories here can say one thing,,and the headline is a sensationalist yellow paper journalistic scam trying to affect the market for the editor's own profit. Yahoo editors should be jailed along with congress and the other trading cheats.
  • Carl  •  3 months ago
    Default and get it over with. What do these guys have to export anyway? The Big Fat Greek Retirement is over. Third world status is what is coming after you take away their credit card away.
  • Joey Biden  •  Northbrook, Illinois  •  3 months ago
    No QE3? We are totally screwed now.
  • daniel  •  Jacksonville, Florida  •  3 months ago
    Keep trying to blame it on Greece when the truth is were all trapped in a debt bubble that's ready to brust.
    • endless 3 months ago
      We’re kicking the can down the road. NO FIX!
    • bill 3 months ago
      No fix Endless just more huge profits for Big Oil Wall street Oil Speculators and OPEC. American housing will never recover now , and if you have a couple hundred grand hanging around put it in the oil market you can,t lose only hard working American middle class are the big losers.
  • 411  •  3 months ago
    Wall Street freeloaders are down today because they read the Fed's minutes and discovered that they had an empty trough....no more free slop little piggy banksters.
  • Louis  •  Los Angeles, California  •  3 months ago
    Calif. today $3.96 reg. $4.05 premium, economist have nothing to say?
    • Abolish the IRS 3 months ago
      ...and diesel is at $4.15 which means the clothes, food, housewares, etc that you'll be purchasing in the next few months will all be going up in price. While the average American worker, works longer hours, for 1996 wages in 2012. When's the revolution??? At this rate it won't be long.
    • BHO 3 months ago
      Calm down Slingblade. What is the price of gas in other countries? Stop complaining and be thankful for what you have.
    • George 3 months ago
      Its because the idiots here voted for a gasoline tax ...quit voting for liberal idiots and bond issues that are nothing more than taxes ..listen to John and Ken on KFI and learn something
  • ABC  •  Dallas, Texas  •  3 months ago
    Ypu call 0.77% a dive. Give me a break! Stocks have been up for almost 2 months.
  • Ed  •  Fort Worth, Texas  •  3 months ago
    look back at the 2008 charts gas topped 4 dollars and dow went from 13000 to 7000 gas is at all time high n headed higher bendover and hang on
    • Mark 3 months ago
      if you know that gas was at $4.50/gallon in july 2008, you'd be hard pressed to say it's at an all time high. You can't even keep your story straight for an entire sentence. Give it up.
    • Di 3 months ago
      You may have a point .
    • Swoop4321 3 months ago
      Don't forget that in 2008, Bush, McCain and their oil company friends wanted to make you believe we had a good reason to be fighting where we were and to keep a republican in the White House. Now, we have a much lower dependance on oil and the oil companies are making up the difference by raising price.
  • Kanman  •  3 months ago
    Why can't the market just take a breather? It's been on a ferocious tear. C'mon, the market is only human after all.
  • Neutral  •  3 months ago
    Are you people insane??

    a 97 point move out of 12,000?? That isn't even statistical noise.
  • Joe  •  Atlanta, Georgia  •  3 months ago
    Could it possibly be that the market is down because investors anticipate the US economy may get worse.
  • seekthetruth  •  3 months ago
    Increasing energy prices is slowly going to cancel out any upticks in employment. Its called inflation even if the government doesn't consider it a CPI component.
  • Thomas  •  3 months ago
    The sky is falling !!!
    The Dow dropped seven tenths of one percent !!!
    The worst performance of the whole year !!!
    Of course, the year is only 46 days old, but still...
    The Dow is up over 60% since President Obama took office, but now we should panic because it lost seven tenths of one percent.
  • woody  •  Leavenworth, Washington  •  3 months ago
    the austerity will be coming to you corner austerity store. im sorry but austerity does not improve economies/it tears them down/ then after they r torn down to nothing the banks and wealthy move in and start buying whats left for a song. and then they privatize it all and the banks and wealthy will get wealthier. this will happen here if europe falls. GET READY ill give it 2yrs .
  • Tommy  •  Phoenix, Arizona  •  3 months ago
    It does not matter the stock market does not operate on fundementals anymore it is just one big illegal cartel operated by corrupt financial crooks
  • J  •  Everett, Washington  •  3 months ago
    This shows how irrelevant the Dow is to the actual economy.
    All prices are up (gas, food, power, gold, clothing etc) from a year ago, wages steady at best, unemployment staggering at a real +15%, food stamp and other hand-outs at record levels and no signs of actual change.

    And according to another yahoo article, 50% of voters "approve" of Obama's regime?
  • Is What It Is  •  3 months ago
    The DOW was in the 9,000s a couple of years ago. Any reason it is in the high 12,000s now? Other than the $ 16 trillion in electronic 'liquidity' loans from the FED, I mean.
    In cash, in US$, on deposit in American banks, under FDIC (the old $ 100,000 coverage limit), NOW! The depression of the 20-teens going to really, really hurt!
 
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