Thursday 27 October 2016

Greek debt fears shake US stocks

Published 17/04/2015 | 21:36

US stocks
US stocks

US stocks have closed broadly lower following steep declines in Europe.

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Investors are worried that Greece may default on its debt and exit the euro currency union.

Chinese regulators have also been taking steps to rein in a runaway stock market.

In the US, American Express and other companies fell after releasing disappointing results.

The Dow Jones industrial average fell 279 points, or 1.5%, to 17,826. It was down as much as 357 points earlier.

The Standard & Poor's 500 index lost 23 points, or 1.1%, to 2,081.

The Nasdaq composite fell 76 points, or 1.5%, to 4,931.

European markets fell sharply. Germany's DAX lost 2.6% and traders shifted money into German government bonds, which investors see as a safe haven in turbulent times.

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