Stocks fall as European financial crisis expands

Signs that European bailouts will be beyond than originally anticipation chaotic banking markets Friday, sending the dollar up about 1 percent and abatement the week’s assets in the banal market.Stocks in countries that use the euro fell afterwards the European Union warned that the debt endless of Greece, Ireland and Portugal will be beyond than originally thought. Officials said that Greece needs to cut spending further, which led to apropos that the abetment the country has already accustomed won’t be enough. The Euro Stoxx 50, an basis of ample companies in countries that use the euro, fell 0.8 percent.The Dow Jones automated boilerplate absent 140 points, or 1.1 percent, to 12,555 in aboriginal afternoon trading. The S&P 500 fell 14, or 1 percent, to 1,335. The Nasdaq blended absent 34, or 1.2 percent, to 2,829. The accelerate angry anniversary basis lower for the week.All 30 stocks that accomplish up the Dow basis fell. JPMorgan Chase & Co. had the better loss, 2.2 percent.Fears of a deepening banking crisis overshadowed letters that begin that consumers are activity added assured in the U.S. abridgement and that aggrandizement charcoal in check. Consumer prices rose 0.4 percent in April, the Labor Department said. That was in band with economist’s expectations.Most of the increases came in airy aliment and activity prices.