U.S. stocks slumped, sending the Standard & Poor’s 500 Index lower for a third straight day, as speculation that Germany is preparing for a Greek debt default spurred turmoil in global financial markets.
Stocks pared earlier losses as a $3.7 billion acquisition by Broadcom Corp. (BRCM) lifted technology shares. Morgan Stanley (MS) and Goldman Sachs Group Inc. (GS) fell at least 1.8 percent, following losses in European banks, and as Citigroup Inc. cut its third- quarter profit estimates for the U.S. lenders. Bank of America Corp. (BAC) gained 0.1 percent on plans to cut about 30,000 jobs during the “next few years.”
The S&P 500 fell 0.8 percent to 1,145.47 at 12:07 p.m. in New York, paring a loss of 1.1 percent. The Dow Jones Industrial Average slid 99.03 points, or 0.9 percent, to 10,893.10...
http://www.bloomberg.com/news/2011-09-11/u-s-stock-index-futures-decline-amid-concern-about-greece-s-debt-crisis.html
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