Markets

US stocks slip amid Europe concerns

NEW YORK : US stocks opened slightly lower Monday as wary markets kept an eye on political changes in Greece and It

Published November 14, 2011 Updated November 14, 2011 04:33pm

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By Asad Naeem

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The Dow Jones Industrial Average fell 3.63 points (0.03 percent) to 12,150.05 about 10 minutes into trading.

The broad-based S&P 500 dropped 3.91 points (0.31 percent) to 1,259.94, while the tech-heavy Nasdaq Composite shed 5.96 (0.22 percent) to 2,672.79.

Investors digested news that Italy continued to pay high rates to borrow a day after economist Mario Monti was name to succeed Silvio Berlusconi as Italy's prime minister.

Greece's new prime minister, Lucas Papademos, faces the task of implementing security measures needed to secure the next installment of an international bailout loan.

The cautious action came after a strong Wall Street rally Friday as investors welcomed a transition government in Greece and the Italian Senate's approval of austerity measures.

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