US mkts fell amid Greek debt concerns; Asia down

US markets fell for 3rd week amid Greek debt concerns and dollar gains. Asian stocks dropped to 2-month low. European markets ended down on debt crisis.

May 23, 2011 / 17:29 IST

US markets fell for third week amid Greek debt concerns and dollar gains. Euro dropped to lowest level in seven weeks against dollar amid Greek crisis. At closing bell, Dow Jones ended down 93 points or 0.74% at 12512, down 0.66% for week, up 8% YTD. NASDAQ ended down 20 points or 0.71% at 2803, down 0.9% for week, up 5.7% YTD. S&P 500 ended down 10 points or 0.77% at 1333, down 0.34% for week, up 6% YTD. CBOE VIX ended up 12.3% at 17.4, up 2.1% for week, down 2% YTD.

US declining sectors: Industrials (-1.0%), Consumer Discretionary (-1.0%), Materials (-1.0%), Financials (-1.5%).

Asian stocks dropped to 2-month low. Kospi was down 1.5%, Nikkei 225 was down 1.4%, Hang Seng was down 1.1%, Taiwan Weighted was down 1%, Straits Times was down 0.9%, Shanghai Composite was flat. SGX Nifty was down 0.9%.

European markets ended down on debt crisis. CAC was down 0.92%, DAX was down 1.24%, FSTE was down 0.13%.

Europe Update:

Fitch downgraded Greece's credit rating deeper into junk territory and warned of further downgrades; said even a voluntary extension of the bond maturities would be

first published: May 23, 2011 08:57 am

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