U.S. stocks drop sharply, extending tumult

Date: Fri, 07 May 2010 12:00:55 -0400

U.S. STOCKS DROP SHAPLY. EXTENDING TUMULT
U.S. stocks plunge again Friday morning, as spooked investors
retreated from the market after a dizzying drop on Thursday, wiping
out year-to-date gains for the three major large-cap indexes.

GERMAN PARLIAMENT APPROVES AID FOR GREECE
Germany's parliament approves legislation Friday to contribute 22.4
billion euros to an international aid package aimed at staving off
bankruptcy in debt-laden Greece.

GOLD PRICES RESUME MARCH UP, AT FIVE-MONTH HIGHS
Gold is back at testing a record high at midday, as it changes
direction higher and pushes past the $1,200-an-ounce mark.

CITI SEES UP TO 20% CORRECTION OVER GREECE
Just hours after one of the most bruising sessions for Wall Street,
strategists in Europe painted a poor outlook for rebound prospects in
the near term.