New York: US stocks dropped on Friday as Greece's crucial international bailout was put on hold by eurozone finance ministers.

Eurozone finance ministers said Greece had to save an extra USD 430 million in order to be granted bailout funds, while Greek workers staged a nationwide strike against the new austerity plan, as reported.

On the economic front, the Commerce Department said that US trade deficit widened to USD 48.8 billion in December, hitting the highest level since July 2008. In midday trading, the Dow Jones industrial average lost 103.69 points, or 0.80 percent, to 12,786.77.

The Standard & Poor's 500 fell 9.26 points, or 0.68 percent, to 1,342.69. The Nasdaq Composite Index dropped 18.30 points, or 0.63 percent, to 2,908.93.