Stocks Drop After Jobs Data; Euro Gains on Greece Discussions
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Stocks fell, dragging the Dow Jones Industrial Average to its longest streak of weekly losses since 2004, as slowing job growth added to signs the economy is weakening. The euro rose as European officials worked toward a second Greek bailout.
The Dow lost 97.29 points, or 0.8 percent, to 12,151.26 at 4 p.m. in New York, adding to its fifth straight weekly loss. The Standard & Poor’s 500 Index declined 1 percent. The euro strengthened 1 percent to $1.4637 as the Dollar Index slumped 0.8 percent to 73.714. Treasuries rose, pushing yields on two-year notes to a seven-month low of 0.41 percent. The S&P GSCI Index of commodities climbed 0.2 percent.