Greek Turmoil Leads to Losses on Wall Street

By: Associated Press
By: Associated Press

New York, NY (AP) -- May 16, 2012 --

More turmoil in Greece caused fallout across the financial markets.

The Dow Jones industrial average fell for the fourth day in a row. Oil closed at its lowest level since November. The euro fell to a four-month low. And the price of gold prices the lowest level since December.

As investors fled to safer U.S. government bonds, the yield on the benchmark 10-year Treasury note hit its lowest this year.

New elections were called in Greece for June 17 after coalition talks to form a government fell apart.

The Dow closed down 33 points at 12,598. The Standard & Poor's 500 index was down six at 1,325. The Nasdaq composite fell 20 to 2,874.

Volume was slightly above average at 4.2 billion shares. Declining stocks outpaced advancers 2-to-1.


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