NEW YORK (AP) — Stocks are falling on worries that Slovakia might not approve a plan to strengthen Europe’s bailout fund. That could complicate efforts to deal with the region’s debt crisis.
All 17 countries that use the euro must agree on the plan, which would give the rescue fund the ability to lend money quickly to banks and governments before a full-blown crisis sets in. Sixteen countries have approved it so far; Slovakia is the holdout.
Shortly after the opening bell Tuesday, the Dow Jones industrial average is down 44 points, or 0.4 percent, at 11,388. The Standard & Poor’s 500 is down 6, or 0.5 percent, at 1,189. The Nasdaq composite is down 9, or 0.4 percent, at 2,557.
The Dow jumped 330 points Monday, its largest gain since Aug. 11.