Wall Street down on Europe downgrade fear

NEW YORK (Reuters) - Stocks dropped on Friday, snapping a four-day winning streak, after news reports that Standard & Poor's would downgrade credit ratings on several euro-zone countries.

The Dow Jones industrial average was down 49.72 points, or 0.40 percent, at 12,421.30. The Standard & Poor's 500 Index was down 6.39 points, or 0.49 percent, at 1,289.11. The Nasdaq Composite Index was down 13.76 points, or 0.51 percent, at 2,710.94.

For the week, the Dow rose 0.5 percent, the S&P gained 0.9 percent and the Nasdaq has risen 1.4 percent.

(Reporting By Ryan Vlastelica; Editing by Kenneth Barry)