Stock indexes have largely glided higher for most of 2012, but as investors grew concerned over Greece's ongoing debt drama, all three indexes dropped Friday, pushing them into negative territory for the week.
The Dow Jones industrial average (INDU) moved down 90 points, or 0.7% Friday, falling 0.5% for the week.
The S&P 500 (SPX) fell 9 points, or 0.7%, losing 0.5% for the week. The Nasdaq (COMP) shed 23 points, or 0.8%, pushing the tech-heavy index down 0.06% for the week.
All three indexes still remain significantly higher for the year. The Dow, S&P, and Nasdaq are up 4.7%, 6.8% and 11.5% respectively.
"There's an increase in the level of agita in the markets, because the Greek deal isn't done," said Guy LeBas, chief fixed income strategist at Janney Capital Markets. "The tone of the market has turned fairly negative."
The fresh bout of worries over Greece came after eurozone finance ministers called the new Greek austerity deal into question, saying it does not go far enough.
"Despite the important progress achieved over the last days, we did not yet have all necessary elements on the table to make decisions today," said Jean-Claude Juncker, the prime minister of Luxembourg and head of the Eurogroup.
The December trade deficit for the U.S. expanded to $48.8 billion, from $47.1 billion the prior month.
Consumer sentiment dropped more sharply than expected in February. The February edition of the Michigan Consumer Sentiment Index fell to 72.5 from 75 last month. The index was expected to come in at 74.
The Treasury Department reported a smaller budget deficit than expected of $27.4 billion for January. Analysts had expected the budget report to show a deficit of $40 billion.The dollar rose against the euro, the British pound and the Japanese yen.
Oil for March delivery slipped $1.17 to $98.67 a barrel.
Gold futures for April delivery fell $15.70 to $1,723.30 an ounce.
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