NEW YORK (AP) — Stocks are falling in early trading on concerns about how austerity measures in Europe might slow the continent’s economy.
Better-than-expected reports on U.S. retail sales and industrial production didn’t help stock prices.
Investors are focusing on the potential long-term impact of severe austerity measures in some European countries like Greece, Spain and Portugal. The euro fell to an 18-month low Friday.
In early morning trading, the Dow Jones industrial average is down 69.53, or 0.6 percent, at 10,713.42. The Standard & Poor’s 500 index is down 9.13, or 0.8 percent, at 1,148.31, while the Nasdaq composite index is down 23.05, or 1 percent, at 2,371.31.
