Negative foreign trade numbers from China, battling over Greece’s debt and expanded Federal Reserve scrutiny of banks combined to push the Dow Jones Industrial Average back below 12,000 and the Nasdaq Composite back into negative territory for the year. Meanwhile, there was virtually no good news for the market on Friday to counter the negatives.
At midday the DJIA was down 1.1% for the day to 11,986. The S&P 500 and Nasdaq Composite were down by similar percentages.
Nearly all radio and TV stocks were down with the market at midday Friday.