Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Wednesday, June 15, 2011

Wednesday

U.S. stocks tumbled as fears of contagion around a Greek default picked up, adding more pessimism to a foreboding mix of U.S. economic data. Greek fears intensified after euro-zone officials failed to make progress on discussions about Greek aid and protests against austerity measures turned violent in Athens. Also driving stocks lower were more gloomy snapshots on the domestic economy. A reading of the Federal Reserve Bank of New York's Empire State Manufacturing Survey fell below zero for the first time since last November, dropping 20 points from May. Meanwhile core inflation last month posted its biggest gain in nearly 3 years. DJIA -178.84 Nasdaq -47.26 S&P 500 -22.45.