Dow Jones Suffers 11th Loss in 12 Days
The Dow Jones industrial average fell for the 11th time in 12 days after a pair of discouraging economic reports came as investors worried about Greece’s possible exit from euro.
The Dow closed down 156 points at 12,442. The Standard & Poor’s 500 fell 20 to 1,305, its lowest close since Jan. 17. The Nasdaq composite fell 60 points to 2,814.
The Federal Reserve Bank of Philadelphia said manufacturing slowed in the mid-Atlantic region for the first time in eight months. The Conference Board reported that its measure of future U.S. economic growth fell in April after six months of increases.
These gloomy reports were a surprise and came as investors continued to fret about developments in Europe, where Greece seemed headed for an exit from the euro bloc.
(Copyright 2012 by The Associated Press. All Rights Reserved.)