Last updated March 19, 2010: 4:30 PM ET --- The major U.S. equity indices closed lower Friday as investors became increasingly concerned over the global economic recovery as more questions arise about Greece's ability to pay its debts. Greece said that it may need to turn to the International Monetary Fund for support if European leaders can't agree on a bailout plan for the debt-ridden country. Investors also grew hesitant after India's central bank raised interest rates in order to combat rising prices. In corporate news, Palm (NASDAQ:PALM) shares fell 26.6% after the company reported a wider-than-expected quarterly loss late Thursday and also forecast revenue for the current quarter that was less than half of what analysts had predicted. The Dow Jones Industrial Average (DJI) closed 0.35% lower at 10,741.98, the S&P500 (INX) closed 0.51% lower at 1,159.90, and the Nasdaq Composite (IXIC) closed 0.71% lower at 2,374.41.
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Ticker(s): PALM
