The Dow Jones Industrial Average suffered its steepest fall of the year Wednesday as questions about the latest Greek bailout added to concerns about industrial stocks.
The Dow gave up 97.33 points, or 0.8 percent, to 12,780.95, the index’s biggest tumble since Dec. 28. The blue-chip index narrowly avoided a triple-digit loss, extending a 33-day streak in which the Dow has avoided falling by 100 points or more. That is the longest such run since a 44-session streak that ended on Jan. 28, 2011.
The Standard & Poor’s 500-stock index fell 7.27 points, or 0.5 percent, to 1,343.23, while the Nasdaq Composite lost 16 points, or 0.6 percent, to 2,915.83.
Leading the declines were industrial stocks, after a report from the Federal Reserve showed industrial production unchanged in January. Economists had expected a 0.7 percent increase.
Sentiment got an early boost after People’s Bank of China governor Zhou Xiaochuan said China’s central bank will expand its investments of euro-denominated assets. But those sentiments were overshadowed by suggestions that eurozone finance officials were looking to delay at least part of the latest Greek bailout until after the country’s April elections, without triggering a default.
Meanwhile, the Fed, in minutes released from its January meeting, reinforced expectations that the central bank stands ready to launch more easing measures in the event of further economic weakness.
“Greece is getting further and further from the forefront, but it’s still an issue,” said Kent Engelke, chief economic strategist at Capitol Securities Management.
European and Asian bourses rallied on China’s eurozone plans. The Stoxx Europe 600 finished with a gain of 0.6 percent, Japan’s Nikkei Stock Average surged 2.3 percent to a six-month high and China’s Shanghai Composite climbed 0.9 percent to a multi-month high.

