US stocks follow European indexes lower
Sunday, October 2, 2011
NEW YORK (AP) -- U.S. stocks are opening lower, following the lead of European markets, as the first day of trading in the new quarter starts on a weak note.
European stocks fell broadly Monday after Greece said it will miss deficit reduction targets it had agreed to as part of its bailout deal. Benchmark indexes in Germany, France, and Spain fell more than 2 percent.
In the U.S., investors will be looking at a key manufacturing index and construction spending figures that will be released at 10 a.m.
Minutes after the market opened, the Dow Jones industrial average was down 46 points, or 0.4 percent, to 10,865.
The S&P 500 fell 5, or 0.5 percent, to 1,126. The Nasdaq lost 15, or 0.6 percent, to 2,400.