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Greece has asked for more time to put in place the spending reforms that Germany is requiring, but the German finance minister said Thursday that more time wouldn’t solve Greece’s problems.

“It’s really more of the same,” said Mike Gibbs, co-head of the equity advisory group at Raymond James in Memphis, Tenn. “What Europe has done is told us they’re going to do something. They haven’t really told us what.”

In U.S. stocks, Big Lots fared worst among S&P 500 companies. It fell more than 22 percent, losing $8.58 to $30.26, after reporting a sharp drop in its quarterly profit and slashing its forecast for the rest of the year.

Hewlett-Packard lost $1.32, or nearly 7 percent, to $17.89. The world’s largest maker of printers and PCs reported weak quarterly results, took a huge charge to write down the value of a recent acquisition and offered a disappointing forecast.