The three major US stock indices fell Friday as Spain said it expected its recession to continue into the next year, dpa reported. Eurozone finance ministers on Friday approved a loan of up to 100 billion euros (121.7 billion dollars) to help Spain recapitalize its banks - but the deal failed to ease market jitters about the country's financial condition. Markets were not convinced, as yields on Spanish 10-year bonds climbed to 7.26 per cent and risk differentials compared to benchmark German bonds rose to 6.1 percentage points - the highest levels since the euro was introduced in 1999. The blue-chip Dow Jones Industrial Average dropped 120.79 points, or 0.93 per cent, to 12,822.57. The broader Standard & Poor's 500 Index fell 13.85 points, or 1.01 per cent, to 1,362.66. The technology-heavy Nasdaq Composite Index lost 40.6 points, or 1.37 per cent, to 2,925.3. The S&P had its second-straight weekly gain, up 0.43 per cent, while the Dow rose 0.36 per cent for the week, and the Nasdaq added 0.58 per cent. The US currency edged up against the euro at 82.22 euro cents from 81.43 euro cents Thursday. The dollar slipped against the Japanese currency to 78.51 yen from 78.59 yen.
