Europe’s debt crisis drags down US stocks

NEW YORK (AP) ? Stocks are opening sharply lower on renewed worries that Europe’s debt crisis will spread.

Banks are leading stocks lower in early trading Monday. Treasury prices are rising, pushing yields near their lows for the year.

Traders fear that Greece could default on its debts, and European policymakers are divided over how to handle the crisis.

A default by one of Europe’s heavily indebted governments could spread through the global banking system. Economists worry that Europe’s debt crisis could tip a weakening U.S. economy into another recession.

The Dow Jones industrial average is down 114 points, or 1 percent, to 10,882. The S&P 500 index is down 10, or 0.9 percent, to 1,143. The Nasdaq is down 15, or 0.6 percent, to 2,452.