Dow Drops Most in 2012 as Europe Concern Resurfaces

U.S. stocks fell for a second straight week, driving the Dow Jones Industrial Average to the biggest loss of 2012, as political tension in Greece heightened concern about Europe’s debt crisis and JPMorgan Chase & Co.’s $2 billion trading loss weighed on shares of banks.

Financial and technology companies in the Standard & Poor’s 500 Index slipped at least 1.7 percent for the week as JPMorgan tumbled 11 percent and Cisco Systems Inc.’s forecasts missed analysts’ estimates. Macy’s Inc. lost 7.6 percent and Fossil Inc. sank 39 percent amid disappointing projections. Walt Disney Co. rose 6.1 percent to an all-time high after the movie “Marvel’s The Avengers” earned a record $200.3 million in its opening weekend and profit beat analysts’ estimates.