Stocks slide at the open as Greek deal is held up

Feb 10 2012 - 10:36am

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In this Feb. 8, 2012 photo, specialist Michael O'Mara, right, works on the floor of the New York Stock Exchange. Stock markets fell Friday, Feb. 10, 2012, after Greece's crucial international bailout was put on hold by its partners in the 17-nation eurozone, a day after it seemed that the country's tortuous journey to pacifying its creditors had reached a conclusion. (AP Photo/Richard Drew)
In this Feb. 8, 2012 photo, specialist Michael O'Mara, right, works on the floor of the New York Stock Exchange. Stock markets fell Friday, Feb. 10, 2012, after Greece's crucial international bailout was put on hold by its partners in the 17-nation eurozone, a day after it seemed that the country's tortuous journey to pacifying its creditors had reached a conclusion. (AP Photo/Richard Drew)

NEW YORK -- U.S. stocks are opening lower after Greece's bailout deal was put on hold, a day after it seemed that the country had pacified its creditors.

The Dow Jones industrial average is down 110 points to 12,781 shortly after the opening bell Friday.

The broader S&P 500 is down 13 points to 1,339. The Nasdaq composite fell 28 points to 2,900.

On Thursday, Greek leaders agreed to private sector wage cuts, civil service layoffs and cuts in government spending.

But finance ministers from the other 16 countries that use the euro insisted that Greece save an extra (euro) 325 million ($430 million), pass the cuts through parliament and guarantee that they will be enforced after planned elections in April.

 

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