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US stocks edge lower on Greek downgrade

Other News Materials 15 June 2010 02:45
Most US stocks fell Monday as debt-saddled Greece's credit rating was downgraded.
US stocks edge lower on Greek downgrade

Most US stocks fell Monday as debt-saddled Greece's credit rating was downgraded, DPA reported.

Moody's Investor Service downgraded the Greek government's debt to a junk-grade rating of Ba1. The news caused less concern than past downgrades because of a 100-billion-euro rescue package already put in place by the European Union and International Monetary Fund.

The blue-chip Dow Jones Industrial Average fell 20.18 points, or 0.2 per cent, to 10,190.89. The broader Standard and Poor's 500 Index was down 1.97 points, or 0.18 per cent, to 1,089.63. The technology- heavy Nasdaq Composite Index edged up 0.36 points, or 0.02 per cent, to 2,243.96.

The US currency fell to 81.78 euro cents from 82.6 euro cents on Friday. The dollar dropped against the Japanese currency to 91.52 yen from 91.67 yen at the end of last week.

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