U.S. Stocks Erase Early Advance Amid Greek Negotiation Concern
February 08, 2012, 11:57 AM ESTBy Nick Baker
Feb. 8 (Bloomberg) -- U.S. stocks erased early gains, a day after the Dow Jones Industrial Average closed at the highest level since 2008, amid concern that Greek Prime Minister Lucas Papademos and coalition party members would fail to agree on terms required for a bailout.
The Standard & Poor’s 500 Index slipped 0.1 percent to 1,345.22 at 11:08 a.m. New York time after climbing as much as 0.3 percent. The Dow slumped 34.97 points, or 0.3 percent, to 12,843.23. Equities dropped as the euro weakened 0.2 percent to $1.3232 after the European currency reached the highest intraday level since Dec. 12 versus the U.S. dollar yesterday.
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net
