US stocks slide on economic tremors from Europe

By AP Updated at 2012-04-23 14:09:55 +0000


NEW YORK (AP) — Stocks are opening sharply lower with new worries about Europe's health.

Reports out of Europe Monday showed government debt continues to pile up despite severe budget cuts that have led to unrest across the continent.

The Dow Jones industrial average is down 126 points to 12,903 minutes after the opening bell.

The Standard & Poor's 500 index is down 15 points to 1,363. The Nasdaq composite is down 33 points at 2,966.

Europe's major indexes fell hard. France's CAC-40 index dropped 2.4 percent. Germany's main index fell even more, 3 percent. The euro fell against the dollar.

Trouble in Europe is affecting Kellogg, which slashed its 2012 forecast, blaming weak sales. Hasbro posted a first-quarter loss on falling sales and costs related to cutting jobs.