U.S. Stocks Suffer Biggest Drop Of The Year As Greece Crisis Deepens

By Anora MahmudovaMarketWatch Pulse

The S&P 500 suffered its biggest decline in more than a year, while Dow industrials saw the largest one-day point drop in more than two years as investors dumped risky assets such as stocks as the crisis unraveled in Greece. The country's Prime Minister Alexis Tsipras unexpectedly called for a referendum on whether to accept reform measures demanded by the country's lenders. The S&P 500 dropped 43.85 points, or 2.1%, to 2,057.64 and turned negative for the year. The Dow Jones Industrial Average plunged 350.33 points, or 2%, to 17,596.35, its biggest point drop in two years. The Nasdaq Composite was hit the hardest, shedding 122.42 points, or 2.4% to 4,958.47.

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