Dow Jones Index drops led by J.P. Morgan Chase

Dow Jones Industrial Average Index slipped 0.39% or 48.96 points to 12,422.06  on Friday amid fears of possible France's AAA downgrade and Greek struggle to agree on debt reductions. Financials were the main losers within the index JP Morgan Chase fell 2.52% after reporting loss in profits and Bank of America tumbled 2.65%. After the closing of US trade, S&P ratings announced it cut ratings for 9 European countries including France. On weekly basis blue chip index is 0.5% up.