Posted: May 18, 2012 11:01 AM
Source: Associated Press
It looks like it will take more than Facebook's initial public offering to push stocks into positive territory.
Facebook shares were trading at $40 a few minutes after starting trading, $2 higher than their offering price.
In midday trading Friday, the Dow Jones industrial average was down 32 points at 12,411. The Nasdaq, where Facebook is trading, was down 17 at 2,797. The Standard & Poor's 500 index fell two points to 1,302.
The Dow has fallen in 11 of the past 12 trading days, including a loss of 156 points Thursday. It's down 6 percent this month.
Europe is not helping investor enthusiasm. Representatives of the G-8 are meeting this weekend, looking for assurances that leaders in Europe can contain damage if Greece leaves the euro.