Stocks Drop on Europe Worries, Bernanke
NEW YORK ( TheStreet) -- U.S. stocks finished deep in the red on Thursday, driven lower by a rekindling of worries about Europe's debt crisis and uneasiness about an upcoming speech from Federal Reserve Chairman Ben Bernanke.
An elevated weekly initial jobless claims report also took a bite out investor risk appetite, pushing the safe-haven benchmark 10-year Treasury up 7/32, diluting the yield to 1.632%. The greenback rose 0.19%, according to the dollar index.
The Dow Jones Industrial Average dropped nearly 107 points, or 0.81%, to close at 13,000.71. Earlier in the session, the blue-chip index scraped a low of 12,979, dipping below the 13,000 mark on an intraday basis for the first time since Aug. 3.
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