Stock Market, Greece Debt | featured news

Concerns over economic growth pushed global markets down on Wednesday, with investors watching meetings between Greek and European leaders for signs the country will get more time to meet its debt reduction targets.

World stock markets dropped Monday as worries intensified over the condition of the eurozone and whether Greece is edging towards leaving the single currency union.

Stocks rose meekly Wednesday morning after their biggest loss this year as reassuring reports on productivity and hiring overshadowed jitters about the Greek debt crisis.

U.S. stocks closed in on the psychologically important mark of 13,000 for the Dow Jones industrial average as optimism about the Greek bailout and the European financial situation sent stocks up in early trading.

Stocks edged lower on Monday as a delay by debt-ridden Greece in accepting the terms of a bailout gave investors little reason to buy equities after a five-week rally.

World stocks hit a 15-month low on Tuesday and the dollar rose to a nine-month peak as fears over a major banking crisis in Europe mounted.

Stocks are tumbling as investors worry that Greece won't qualify for a new installment of emergency funds in time to avoid defaulting on its debt.

Several European countries that banned short-selling have extended the prohibition until the end of September. When concerns about European banks’ exposure to Greek debt sent their stocks plummeting two weeks ago, market regulators in Belgium, France, Greece, Italy and Spain stepped in to prohibit traders from betting on the decline in a share’s price.

A credit agency warning that Greece could face default if it follows an international plan designed to help the country cope with its massive debts caused Asian markets to stall Tuesday.

Developments in Greece helped stocks in the United States, closing a volatile quarter marked by debt concerns in the euro zone and by a struggling economic recovery at home.