Loading...
See More

US stocks open lower

Sep 24 2012 15:51 AFP

Related Articles

Apple surges as US stocks open higher

Wall St ends higher, led by housing

US stocks mixed on profit worries

Wall St closes lower as oil drops

Fed's QE3 sparks rally on US markets

US markets rebound after opening lower

 

New York - US stocks opened lower on Monday as investors worried about deteriorating economic conditions in Europe, China and other big economies.

A slide in German business confidence on the Ifo index to its lowest level in two years weighed on market sentiment on both sides of the Atlantic. The downturn in Europe's biggest economy raised questions about its capacity to fund the eurozone debt crisis bailout.

After five minutes of trade, the Dow Jones Industrial Average was down 56.03 points at 13,523.44.

The S&P 500-stock index fell 7.69 points to 1,452.46, while the tech-heavy Nasdaq tumbled 26.60 points to 3,153.35.

"Clearly, Europe is moving deeper into recession," Fred Dickson at DA Davidson & Co. said in a client note.

"This presents a big problem for European countries with financial problems (Spain, Italy) but also weakens the case for stronger European countries to kick in huge amounts of funds into the various European Union financial rescue plans."

On Friday, stocks closed barely changed amid a dearth of market-moving news.


* Follow Fin24 on TwitterFacebookGoogle+ and Pinterest.

wall street  |  markets
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

New forms of digital technology are changing the very ways in which entrepreneurs run their businesses.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...