NEW YORK: US equity markets fell in opening trade Wednesday as a poor German debt auction fuelled fears over Europe's fiscal crisis.
The Dow Jones Industrial Average tumbled 89.68 points (0.78 percent) to 11,404.04 in the first minutes of trade.
The broader S&P 500-stock index dropped 10.74 points (0.90 percent) to 1,177.30, while the tech-rich Nasdaq slid 18.60 points (0.74 percent) to 2,502.68.
"Escalating concerns about European debt are once again dominating the headlines. Most notably, a disappointing auction of German bonds is weighing on Wall Street," said Andrea Kramer at Schaeffer's Investment Research.
The main indexes closed lower Tuesday after a downward revision to the US gross domestic product growth rate for the third quarter and persistent concerns about high debt levels in Europe and the United States.
Comments
Comments are closed for this article.