U.S. markets go further down
As concerns over debt in Greece have not abated despite an international rescue effort, U. S. markets slid Wednesday.
It has been reported that the European Union and the International Monetary Fund have offered $143 billion in loans to Greece, but the protracted negotiations undermined investor confidence. With a deal in place, citizens in Greece, faced with tough austerity measures, have taken to the streets in protests that have turned violent.
Stocks tumbled Tuesday, the Dow Jones industrial average and the Standard & Poor's 500 both losing 2 percent or more. The Nasdaq composite index dropped nearly 3 percent.
Stocks never gained traction Wednesday. By close, the DJIA dropped 59.94 points, 0.55 percent, to 10,866.83. The S&P 500 shed 7.73, 0.66 percent, to 1,165.87. The Nasdaq index lost 21.96, 0.91 percent, to 2,402.29.
625 stocks advanced and 2,461 declined on a volume of 6.7 billion shares traded, on the New York Stock Exchange.
The benchmark 10-year U. S. Treasury note rose 13/32 to yield 3.548 percent.
From Tuesday's $1.3004, the euro fell to $1.2823. The dollar, against the yen, fell to 93.79 yen from Tuesday's 94.46 yen. (With Inputs from Agencies)