Stocks Mixed After Global Sell Off

U.S. stocks were mixed in early trading Friday with Wall Street on alert for indications policy makers would take additional steps to bolster the global economy. The Dow Jones Industrial Average lately fell 5.45 points to 10,728.38. The S&P 500 Index was up 2.97 points to 1,132.53. The Nasdaq Composite rose 9.49 points to 2,465.16.

Finance ministers and central bank governors of the Group of 20 major economies said Thursday that they would work in a coordinated fashion to put an end to the latest financial crisis engulfing Europe.

Moody’s downgraded eight Greek banks Friday, citing their exposure to their government’s bonds and the deteriorating economic situation in the country as it struggles to convince creditors it’s doing enough to get more bailout cash.

Oil prices continued to fall sharply on Friday, retreating $2 to below $79 a barrel amid falling equity markets and the prospect of weaker demand for crude as the global economy slows. By early afternoon in Europe, benchmark oil for November delivery was down $2.07 to $78.44 in electronic trading on the New York Mercantile Exchange.

Dish Network Corp. is expected to unveil an Internet video service Friday in a move that could give movie lovers another reason to abandon Netflix.





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