Stocks, euro fall on fears of Greek euro exit

Oil prices and European stocks rebounded after recent declines, but shares in Europe were lifted by defensive plays like utilities and drugmakers.

Trading volume in Europe was lower than an already weak 90-day average, reflecting a downbeat mood that was heightened by concerns about Greece ahead of a three-day US holiday weekend.

A report that showed US consumer sentiment rising to its highest level in more than four years in May helped buoy sentiment in some quarters, leading US stocks to pare some losses. The broad S&P 500 traded near break-even, but the Dow was 0.15 percent lower.

The Dow Jones industrial average dropped 90.66 points, or 0.72 percent, to 12,439.09. The Standard & Poor's 500 Index slipped 3.18 points, or 0.24 percent, to 1,317.50. The Nasdaq Composite Index fell 4.45 points, or 0.15 percent, to 2,834.95.

In Europe, the FTSEurofirst 300 index rebounded, rising 0.2 percent to 984.97.

In Asia, the Nikkei ended the week down 0.4 percent and has fallen 16 p ercent since hitting a one year peak on March 27. It finished 0.2 percent higher on the day at 8,580.39. The broader Topix ended flat at 722.11 in thin trade, with just 1.56 billion shares changing hands.