Stocks Take A Hit Due To Concerns Over Greece (MMM, PFE, AXP, BAC, JPM)
March 19, 2010 10:35 AM
U.S. stocks saw a decline in trading on Friday as concerns over Greece resurfaced.
The Dow Jones Industrial Average fell 0.2% to 10,753. 3M Company (NYSE: MMM) was the worst performing stock in the index. 3M shares were down 1.80% to $82 .13 at 11.23 a.m. in New York. Shares of Pfizer (NYSE: PFE) also saw a decline after it lost out in a takeover battle for German generic drug maker Ratiopharm.
Financial stocks also saw a decline, with American Express Company (NYSE: AXP) down 1.41% to $40.42, Bank of America Corporation (NYSE: BAC) down 1.81% to $16.77, JP Morgan Chase & Co. (NYSE: JPM) down 0.94% to $43.23.
In Europe, there was mounting concern over Greece. Europe is still divided on whether to seek financial assistance from IMF to bailout Greece. The situation in Europe saw investors showing more confidence in U.S. dollar as it rose against the euro and Japanese yen.
