Stocks Fall Sharply as Greek Deal Is Held Up

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are closing their worst day this year after Greece hit a roadblock on its way to a critical bailout.

The Dow Jones industrial average is finishing down 89 points, or 0.7 percent, at 12,801. The broader Standard & Poor's 500 is down nine points to 1,343. It is the first losing week for the index this year.

The Nasdaq composite is closing down 23 points at 2,904.

Stocks fell all day on news that European finance ministers were insisting that Greece cut even more in wages and spending if the nation hopes to get bailout money to pay its creditors.

Three stocks fell for every one that rose Friday on the New York Stock Exchange. Volume was light with just 3.5 billion shares trading hands.

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  • by Anonymous on Feb 12, 2012 at 12:09 PM
    Have you figured out how CPI effects GDP and how CPI without food and energy creates positive GDP during price inflation of food and energy and how printing too many dollars causes monetary inflation? Back to school
    • reply
      by Gerry on Feb 12, 2012 at 01:42 PM in reply to
      I read in a public restroom that Earth's Moon is made of green cheese and also that the end of the world is near, but I didn't believe the comments. Nobody here seems to believe you, either. Maybe you should post your comments in some public restroom.
      • reply
        by Anonymous on Feb 12, 2012 at 07:31 PM in reply to Gerry
        Schooling is supposed to stretch your brain, not close it off.....keep stretching because you will learn
    • reply
      by Anonymous on Feb 12, 2012 at 07:32 PM in reply to
      “When the debate is lost, slander becomes the tool of the loser.” ― Socrates....and proven by Gerry because I proved how governments monkey with the numbers and he is wrong again
      • reply
        by Gerry on Feb 12, 2012 at 08:56 PM in reply to
        In which work did Socrates write or say that? You are a cretin. Socrates wrote nothing down.
        • reply
          by Anonymous on Feb 13, 2012 at 04:05 AM in reply to Gerry
          Give a boy enough rope and he'll hang himself....your reply to Socrates and I never claimed he wrote it. Go study the real economy now instead of your government white wash numbers. How many jobs will it take to get us back to 66% plus work force?
        • reply
          by Gerry on Feb 13, 2012 at 06:07 AM in reply to Gerry
          @ Anonymous You are a simple-minded cretin. Jesus Christ wrote nothing down.
        • reply
          by Anonymous on Feb 13, 2012 at 07:28 AM in reply to Gerry
          People who are ahead of their time have followers who write history down. Of course we have the constitution in written form and you ignore it also so again what is your point or do you just have to see "geery" on your computer screen to feel important....more rope for you and how many jobs have to be created to return to the average level during bush?
        • reply
          by Gerry on Feb 13, 2012 at 08:58 AM in reply to Gerry
          @Anonymous You're a genius. There is never any difference between what was said and what was reported to have been said.
        • reply
          by Anonymous on Feb 13, 2012 at 10:40 AM in reply to Gerry
          kind of like when someone claims climate is not weather or the unemployment has always been calculated the same and then on the same page no less posts the exact opposite? NOPE Want some more rope simpleton?
  • by Gerry Location: Tallahassee on Feb 12, 2012 at 11:46 AM
    The US accumulated less debt in the 3rd year of Obama's Presidency than it did during the final year of George W. Bush's Presidency.
    • reply
      by Anonymous on Feb 12, 2012 at 12:07 PM in reply to Gerry
      which means.......TADA. Nothing. The body of work convicts your president.
  • by Anonymous on Feb 12, 2012 at 05:58 AM
    Real simple Gerry. If inflation goes up 7 percent and people spend seven percent more money that year, question is did the economy grow any? The answer according to all economists is no because people purchased the same amount of things it's just they costed more. So the government figures inflation the old way which includes fuel and groceries and the new way that doesn't. So inflation was 7% last year and the government reports 2 percent and subtracts just 2 percent out of the GDP and presto! We have a growing economy! Oh and then this saves trillions in Social security because they only give a 2 percent raise instead of a 7 percent raise. So the Federal Reserve prints too many dollars and this causes the dollar to lose value which makes it appear that prices are going up (really the dollar went down) and then the government only counts part of the inflation to make GDP numbers look good and then they stick it to the greatest generation ever by giving them sub standard raises and then report only the people on unemployment instead of the total number of Americans who are unemployed and the sheeple like you think things are going great and the government does not lie. (generalized numbers but close to the truth and easy to follow)
  • by Anonymous on Feb 11, 2012 at 03:05 PM
    The federal reserve has flooded the market with dollars and the banks have flooded wall street with their excess reserves. The average investor has not pumped two trillion dollars into the stock market but the bankers and their high frequency trading have yes rigged the stock market. Remember what happened when the stock market was over 14k? Don't mean squat and now go and research GDP.
    • reply
      by Gerry on Feb 11, 2012 at 08:14 PM in reply to
      You said depression. Or maybe you said depression, it's hard to know because you don't sign your comments. I don't believe what you're saying. Neither do you. You won't sign your comments because you want to be unaccountable. Somebody scrawls "depression" on a restroom wall, I just ignore it. Man up. Maybe somebody will believe you.
      • reply
        by Anonymous on Feb 12, 2012 at 05:48 AM in reply to Gerry
        Your posts say you ignore me and discount me as non-credible but you keep coming back because you want more schooling. Kind of like as i say not as I do
  • by Anonymous on Feb 11, 2012 at 12:01 PM
    Gerry another clue for you.... figure out how GDP is calculated. Then look how the government figures the numbers it plugs in. Then figure out how the new numbers are calculated versus the old numbers. Then when you see things are really in a depression but the government doctors the numbers you might understand what is really going on in the world. If you plug garbage into an equation you get garbage out. So nice of the government to be able to publish good numbers so we will continue to have faith in our system because when Americans lose faith in our system what do we have?
    • reply
      by Gerry on Feb 11, 2012 at 02:01 PM in reply to
      The SP500 closed on 2/10/12 at 1342.64. On 1/20/09 at 805.22. On 1/22/01 (Monday) at 1342.90. Depression? Has the government doctored the SP500 also? The SP500 is up 2/3 since Obama was inaugurated.
  • by Gerry Location: Tallahassee on Feb 10, 2012 at 06:42 PM
    If neo-Confederates don't find a way to undermine the economic recovery, then all of the obstruction of the last 3 years will have been for nothing, and Obama will be reelected. Neo-Confederates had better start calling for austerity, cutting spending, and cutting taxes on the rich.
    • reply
      by Anonymous on Feb 11, 2012 at 05:44 AM in reply to Gerry
      stock market is up but there is no recovery....lying government again
      • reply
        by Gerry on Feb 11, 2012 at 11:09 AM in reply to
        How is recession defined? The economy is growing, not contracting. You don't seem to have much confidence in your statements, confidence enough to sign your post, for example.
        • reply
          by Anonymous on Feb 11, 2012 at 11:57 AM in reply to Gerry
          of course you need credible info to establish GDP. Using the old undoctored numbers things aint good in the USA. Again the government changed inflation numbers, unemployment numbers....... and wow we are booming
  • by Gerry on Feb 10, 2012 at 05:50 PM
    I think everyone should be able to print all the dollars they want off the computer.
  • by Gerry Location: Tallahassee on Feb 10, 2012 at 05:13 PM
    Nothing says intellectual dishonesty and intellectual bankruptcy like posting with somebody else's handle. Who is the most credible of the neo-Confederate posters? There isn't one! Hardy, har, har. Hardy, har, har. The neo-Confederates are no better than college kids shouting down someone they can't refute. Bring it on! Hardy, har, har. Hardy, har, har. It must be because I'm so ineffective! Too funny. Hardy, har, har.
  • by Gerry on Feb 10, 2012 at 04:09 PM
    I'm so tired of the anonymous posters being right. I post with my first name so I must be credible...right?
  • by Gerry on Feb 10, 2012 at 04:09 PM
    Climate is not weather
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