Stocks continued to fall in early afternoon trading Wednesday, erasing most of Tuesday's gains.

Data released Wednesday increased concerns over the economy. Federal Reserve Bank of New York's Empire State Manufacturing Survey fell to -7.79, the first time the survey turned negative since last November.

Inflation continues to be a concern as well. Core inflation -- which does not take energy and food prices into consideration -- in May posted its largest increase, 0.3%, since July 2008.

Continued concerns over Greece, a country that is nearing the point of default, also affected the market Wednesday.

The Dow Jones Industrial Average was down by 185 points this afternoon.

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