Investors flocked to the security of safe-haven assets Friday, like U.S. Treasuries and cash dollar holdings, ahead of what is expected to be a volatile weekend in Athens, already rocked by riots and tense government negotiations.
Risky assets like equities and commodities, both industrial and precious, fell as investors watched to see if the Greek prime minister can get lawmakers this weekend to support a new austerity package that includes a sharply lower minimum wage, reduced pensions and higher taxes. Success means $172 billion in rescue money; failure could mean an imminent default.
Here's a look at how the markets fared:
Stocks. Both the Dow Jones Industrial Average and wider S&P 500 indexes were down. All S&P sector indices were in the red, though consumer cyclicals and capital good companies -- whose performance is closely tied to economic developments -- led the slump.
Bonds. U.S. Treasuries rallied with the yield on the benchmark 10-year note, which moves opposite price, fell slightly to 1.96 percent. It was the first time in four days Treasuries ended the day up. The surge in the corporate bond market continued, as more companies took advantage of rock-bottom rates to obtain cheap financing.
Commodities. Crude oil fell nearly one percent, copper closed lower and precious metals settled down. Most agricultural commodities were lower.
Foreign Exchange. The dollar gained while the yen declined and the euro fell nearly one percent. Mexico's peso and Chile's peso ended the day down.