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US Stocks Plunge As Investors Worry About Greek Debt Crisis

   VOA News 06 May 2010
   Traders work on the floor of the New York Stock Exchange

Photo: AP

   Traders work on the floor of the New York Stock Exchange

   U.S.  stock  market indexes plunged in Thursday's trading as the Greek
   debt crisis shook investors. Â
   At  one  point,  the  Dow  Jones Industrial Average had its worst loss
   since 1987.
   The  S & P 500 fell as much as 8.6 percent before trimming its loss to
   a bit more than four percent.
   The euro hit a 14-month low and the price of gold soared more than $33
   as investors dumped the currency and sought a safer place to put their
   money. Â
   At  the same time, the price of oil fell sharply, on concerns that the
   crisis could hurt economic growth and slow demand for energy.
   European  nations  and the International Monetary Fund have put a $145
   billion  aid package together for Greece in exchange for sharp cuts in
   salaries and public spending. Â
   That  austerity  plan sparked riots in Athens, raising questions about
   whether or not the aid plan would be successful.
   Some  investors  may  have been disappointed that the European Central
   Bank  did  not outline any additional efforts to fight the debt crisis
   as it wrapped up a key meeting earlier on Thursday.

   Some information for this report was provided by AP, AFP and Reuters.

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