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.READ MORE: DWSD Working To Repair Dozens Of Water Main Breaks
According to preliminary calculations, the Dow Jones industrial average is closing down 107 points, or 1 percent, at 10,340.READ MORE: Supreme Court Justice Stephen Breyer Plans To Retire
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.MORE NEWS: Commission Urges Michigan Supreme Court To Reject Redistricting Challenge
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.