15.6.11

U.S. Stocks Fall on Slow Recovery, Greece

U.S. stocks sank the most in two weeks, threatening to erase the 2011 gain for the Standard & Poor’s 500 Index, and the euro slid the most in more than a month amid rising concern that Greece will default and evidence that the American economy is slowing. Treasuries gained.
The Standard & Poor’s 500 Index fell 1.8 percent to a three-month low of 1,264.73 at 3:26 p.m. in New York, trimming its year-to-date gain to 0.6 percent, and the Stoxx Europe 600 Index closed down 1.1 percent. The euro lost 1.9 percent to $1.4172 and the cost of insuring Greek and Portuguese debt rose to records. Oil sank to the lowest price since February as the S&P GSCI Index of commodities plunged 3.4 percent, while the Dollar Index surged the most in eight months. Ten-year Treasury yields fell 13 basis points to 2.97 percent.

http://www.bloomberg.com/news/2011-06-15/euro-falls-amid-eu-deadlock-over-greek-crisis-aussie-oil-drop.html

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