Markets
US stocks tumble on US, Europe worries
NEW YORK : US stocks opened sharply lower Monday amid worries about the Greek sovereign debt crisis and the political
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The Dow Jones Industrial Average plunged 171.73 points (1.49 percent) to 11,337.36 in the first five minutes of trade.
The broader S&P 500 dropped 20.38 points (1.68 percent) to 1,195.63, while the tech-heavy Nasdaq Composite fell 41.12 points (1.57 percent) to 2,581.19.
Stocks fell after eurozone finance ministers over the weekend failed to find a convincing way to tackle Greece's sovereign debt crisis.
Sentiment also was under pressure ahead of US President Barack Obama's release of a deficit-reduction plan. According to officials, the proposal will include tax hikes expected to be opposed by Republicans.
Copyright AFP (Agence France-Presse), 2011