Stocks, Euro Slide as Worries About Europe Persist

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks and the euro are falling as worries about Europe dragged down financial markets. Energy companies fell hard as the price of crude oil plunged 5 percent. Gold fell below $1,600 for the first time in more than two months.

The Dow Jones industrial average dropped 131 points, or 1.1 percent, to 11,823. After three days of losses, the Dow is now down 3 percent for the week.

The dollar and Treasury prices rose as traders shifted money into lower-risk assets.

The S&P 500 index fell 14 points, or 1.1 percent, to 1,212. The Nasdaq fell 40, or 1.6 percent to 2,539.

More than two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was below average at 4.2 billion.

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