Stocks Drop With Euro, Commodities as Greece Opposes Oversight

By Stephen Kirkland and Rita Nazareth

January 30, 2012 at 9:32 PM UTC

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Stocks slipped, sending the Standard & Poor’s 500 Index lower for a third day, Treasuries rose and the euro weakened as Greece tangled with European officials over terms of a second rescue package. U.S. equities pared losses as Apple Inc. led a rally in technology shares.

The S&P 500 fell 0.3 percent to 1,313.01 at 4 p.m. in New York, trimming an earlier drop of 1.2 percent. The Dow Jones Industrial Average dropped 6.74 points to 12,653.72 after losing as much as 131 points. The five-year Treasury note yield touched a record low of 0.72 percent. The euro weakened 0.7 percent to $1.3131 and the Dollar Index added 0.3 percent. Costs to protect Portuguese bonds from default rose to a record. Copper retreated 1.6 percent, the most in three weeks.