Wall Street reverses sharp sell-off on Greek deal
US stocks closed way off session lows on news Greece agreed to a five-year austerity plan, but lingering economic uncertainty ultimately drove indexes mostly lower, keeping a downward trend in place.
The Dow Jones industrial average dropped 59.67 points, or 0.49 percent, to 12,050.00 at the close. The Standard & Poor's 500 Index lost 3.64 points, or 0.28 percent, to 1,283.50. But tThe Nasdaq Composite Index gained 17.56 points, or 0.66 percent, to 2,686.75.
European shares fell to a fresh three-month closing low, as higher-than-expected weekly US jobless claims intensified worries about the strength of the recovery in the world's biggest economy.
The FTSEurofirst 300 index of top European shares unofficially ended the session 1.5 percent down at 1,075.21 points, the lowest close since mid-March.
The Nikkei average fell after the Federal Reserve data, though gains in car manufacturers and steelmakers on the back of hopes for production recovery offset the falls. Japan's Nikkei closed down a third of a percent.
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