US stocks fall sharply in early trading

By

Published:

 

NEW YORK (AP) -- U.S. stocks are sharply lower in early trading.

The losses come after steep declines in European indexes. The Stoxx 600 Europe index fell 4.1 percent on Monday because of concerns that Europe's debt problems could slow growth around the world. The index fell another 1.4 percent Tuesday.

The U.S. economy is also weak. A Tuesday report on the U.S. service sector is expected to show the fourth straight month of declining growth. It comes on the heels of a jobs report Friday that was the worst since September 2010.

Minutes after the opening bell, the Dow is down 267 points, or 2.4 percent, to 10,973. The S&P 500 is down 29, or 2.5 percent, to 1,143. The Nasdaq composite is down 57, or 2.3 percent, to 2,423.