Greek Woes Snap 5 Week Rally

February 11, 2012

U.S. stocks fell, snapping a five- week-rally for the S & P 500. This happening amid concern that the plans to help Greece avoid default are unraveling. Additionally, confidence among American consumers dropped more than forecast.Citigroup Inc. (C) and Bank of America Corp. (BAC) dropped almost a percent, to pace declines among financial companies. Commodity producers retreated as Freeport-McMoRan. (FCX), Alcoa Inc. (AA) and Halliburton Co. (HAL) decreased almost a percent. First Solar Inc. (FSLR), the biggest maker of thin-film solar panels, tumbled 8.3 percent after permitting issues delayed a U.S. loan guarantee for a power plant in California.