Posted on 05/17/2012 2:24:21 PM PDT by Signalman
NEW YORK (CNNMoney) -- Investors fled stocks and flocked toward the safety of U.S. Treasuries Thursday as worries about Greece's future in the eurozone continued to escalate.
The Dow Jones industrial average (INDU) dropped 156 points, or 1.2%, and the S&P 500 (SPX) lost 20 points, or 1.5%. The day's retreat marked the fifth day of declines for the Dow and S&P 500.
The Nasdaq (COMP) closed in the red for a fourth consecutive session, shedding 60 points, or 2.2%.
Concerns about Greece's place in the 17-nation eurozone continued to build, sending investors toward U.S. goverment debt, which is perceived as a safe haven. The yield on the 10-year Treasury was 1.706%, the lowest closing level on record.
European leaders voiced support Wednesday for keeping Greece in the body, but said the debt-ridden country must stick with unpopular austerity measures if it wants to continue receiving help.
(Excerpt) Read more at money.cnn.com ...
Coming Soon to California, the Greece Debt Crisis and if Zero gets re-elected, it’ll be in Washington, DC.
And a few weeks ago stocks reached 5 year highs and the media was telling us how great the economy was doing
Coincidence?
Or more likely that was just the “Pump” phase
and now we are in the “Dump” phase
And just think, the U.S. is in worse shape financially than Greece. If China ever stops buying our bonds, it is Kaput for us.
Hopey Hopey Change Change!
stocks go up ,great news from the US - stocks go down it’s Greece (cough) bull
That was one of the most ugly-ass market closes I’ve ever seen.
Our Greek “crisis” certainly overshadows Iran’s building of nukes, mounting them in Venezuela, etc. Beside, the momentarily low gas prices will encourage the political regulator class folks to go on vacation and spend some of that debt money.
By the way, the Iranian embargo is just ahead. That might account for the flood of words about Greece, etc.
Not likely in an election year.
Perhaps up on Facebook hype tomorrow.
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