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US stocks fall on Greek debt deal worries

Published on Nov 28, 2012 5:58 AM
 

NEW YORK (AFP) - US stocks fell Tuesday, uninspired by the revised bailout deal secured by Greece that will again help it avert a default on its huge debt load.

European markets closed higher on the deal, which allows Athens to trim its debt load through bond buybacks and reduced rates, and promises new rescue loan installments of 43.7 billion euros (S$69.2 billion) through March. But US traders were less impressed.

The Dow Jones Industrial Average was down 87.55 points (0.68 per cent) at 12,879.82 in closing trade.

The broad-market S&P 500 lost 7.20 (0.51 per cent) at 1,399.09, while the Nasdaq Composite slid 9.04 (0.30 per cent) to 2,967.74.