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6B Daily News – Wednesday, March 7, 2012 $ 15 Off regular price With this ad! • Same Day Service • Free E-File • Check Our Price • Over 45 Years Experience P. Ralph Campbell, EA Enrolled Agent Daniele Jackson 530-529-9540 855 Walnut St. #2, Red Bluff The North State's premier supplier of stoves STOVE JUNCTION The Over 25 years of experience Accessories with purchase of any stove 20% OFF Stove Good through March 31, 2012 Tues-Sat 9am-5pm • Closed Sun & Mon 22825 Antelope Blvd., Red Bluff 530-528-2221 • Fax 530-528-2229 www.thestovejunction.com (AP) — Stocks suffered their biggest losses in three months Tuesday, the first hiccup in a strong and steady rally to start the year. Wall Street worried about the global economy and waited while Greece pres- sured the last investors to sign on for its bailout. The Dow Jones industri- al average fell more than 200 points, giving up more than a quarter of its 745- point advance since Jan. 1, the best start to a year in the U.S. market since 1998. The sell-off, which spread west from Europe, also interrupted a period of unusual calm on Wall Street. Before Tuesday, the Dow had not fallen 100 points for 45 straight trading sessions, the longest streak since 2006. The decline of 203.66 points was the worst for the Dow since Nov. 23 and left the average at 12,759.15. It was only last week that the Dow closed above 13,000 for the first time since May 2008, four months before the worst of the financial crisis. ''When things go straight up and don't ever correct or have some sort of normal pullback, as an investor, that makes me ner- vous,'' said Ed Hyland, a global investment specialist with J.P. Morgan Private Bank. The gradual rally had been powered by optimism Dow falls more than 200 Wall Street about the U.S. economic recovery. But investors real- ized that Greece's debt problems, Europe's eco- nomic problems and Israel's Iran problems were still very much their problems, too. Stocks fell sharply from the opening bell and never mounted a serious come- back. The Dow was down as much as 227 points. All but one of the 30 stocks in the average finished the day lower. Intel managed a gain of 7 cents. All 10 industry groups in the Standard & Poor's 500 declined. Bank stocks, which typically take a hit when there is any reason to worry about Greece, led the declines, followed by indus- trial and materials compa- nies, which depend on strength in the world econo- my. Alcoa, which makes alu- minum and depends heavily on world economic demand, fell 4.1 percent, the worst of the Dow 30. China revised its projection for economic growth on Mon- day to 7.5 percent this year, down from 8 percent. The Standard & Poor's 500 index fell 20.97 points, its worst decline since Dec. 8, to 1,343.36. The S&P had not declined 1 percent or more for 45 straight trading days, also the longest streak since 2006. That year, the S&P put together 94 in a row. The Nasdaq composite index dropped 40.16 points to 2,910.32. The Nasdaq last week broke through 3,000 for the first time since December 2000, during the collapse in dot-com stocks. Last year, sell-offs like this were much more com- mon. The S&P fell by at least 1 percent on 48 trading days, roughly one in every five. During the depths of the financial crisis in the last four months of 2008, it hap- pened roughly one in every three days. Stocks fell more than 3 percent Tuesday in Ger- many, Spain and France, and 1.9 percent in Britain. Greece stepped up pressure on private investors to swap their Greek government bonds for replacements with a lower face value and interest rate. The price of oil slipped $2.02 to $104.70 per barrel on the New York Mercantile Exchange. New York crude has risen from $96 last month amid fears of a dis- ruption in global oil sup- plies driven by the potential for conflict with Iran. The price of gold fell $31.80 per ounce, or 2.1 percent, to $1,672.10 per ounce. Silver, platinum and copper all fell more than 2 percent on concerns about Europe and weaker demand.