Stocks Fall As Worries About European Debt Return
Stocks are closing lower following new worries about Europe’s debt problems. Treasury prices rose and gold settled at a new high Tuesday as investors sought out safe assets.
European stocks fell following news reports that banks there may have more risky government debt on their books than was disclosed during “stress tests” earlier this year.
According to preliminary calculations, the Dow Jones industrial average is closing down 107 points, or 1 percent, at 10,340.
The S&P 500 index lost 12, or 1.1 percent, to 1,091, while the Nasdaq fell 24, or 1.1 percent, to 2,208.
About three stocks fell for every one that rose on the New York Stock Exchange, where volume came to 830.3 million shares.
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