U.S. and European Markets Drop as Volatility Rises

U.S. and European markets played follow the leader Friday, as the three main stock indexes in both regions tumbled nearly 3 percent together. Among other events, analysts pointed fingers at the euro, uncertainty over President Obama’s jobs speech and doubt over Greece’s ability to address its financial problems.

See the hard numbers below. –ARK

The New York Times:

Stocks on Wall Street declined sharply on Friday and bond prices soared as developments in Europe continued to weigh on the financial markets. The three main market indexes fell nearly 3 percent by the close of trading. The Standard & Poor’s index of 500 stocks closed down 31.67, or 2.7 percent, to 1,154.23. The Dow Jones industrial average fell 303.68 points, or 2.7 percent, to 10,992.13, and the Nasdaq composite index was down 61.15 points, or 2.4 percent, to 2,467.99.

At 4 p.m., the VIX volatility index was 40.11, the highest level since Aug. 22, when it was 42.44.

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