Stocks pare back big losses this morning

The Dow finished down just 6 points, which is a near miracle considering that earlier in the day the index was off by nearly 200. Why the comeback? Well, Greece, what else? European leaders tried to calm fears of a Greek exit from the euro zone (now dubbed as a "Grexit."). This is an unnerving reminder of how skittish investors continue to be about fallout from Europe's debt problems. From the WSJ:

"It's so difficult to foresee what might actually happen, so it's hard to say whether the risks have been correctly priced in or not," said John Carey, portfolio manager at Pioneer Investments, who said he was worried about "a full-fledged correction like we had last summer." He added: "Part of the uncertainty is whether we have a chance to prepare, or whether the exit would be sudden."

One bit of positive news for Facebook investors: The stock had a good day, gaining 3.2 percent to $31.99. Of course, that's still six some-odd bucks below the offering price.