Wednesday May 16, 201212:55 AM GMT
US stocks slump amid political limbo in Greece
File photo
File photo
Wed May 16, 2012 12:54AM
Share | Email | Print
US stocks have closed at three-month lows as more investors are worried about the political stalemate in Greece.


On Tuesday, the Dow Jones Industrial Average dipped 63.35 points (0.50 percent) to close at 12,632.00, the lowest level since January 19, while the S&P 500 fell 7.69 points (0.57 percent) to 1,330.66, CNN reported. The Nasdaq Composite Index shed 8.82 points (0.30 percent) to close at 2,893.76.

The last two indexes finished at the lowest levels since February 2.

The collective plunge followed news that depositors in Greece -- the epicenter of the eurozone debt crisis -- withdrew EUR 700 million from the nation’s local banks on fears that the European country might have to stop using the euro as its legal tender amid Greek leaders’ failure to form a coalition government.

The lingering political uncertainty in Greece has already affected markets in Asia and Europe.

MHB/HN
Comments
Add Comment Click Here
Latest From United States
  • Today
  • Last Week
  • Last Month
  • Today
  • Last Week
  • Last Month
Follow Us
© Copyright 2012 Press TV. All rights reserved. | About PressTV | Contact Us | Frequencies | Privacy Policy