Stocks fall on concern over Europe’s banks

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Stocks are down in morning trading as renewed concern about Europe outweighed positive news about jobs in the U.S.

The Dow Jones industrial average fell 73 points to 12,343 shortly after the opening bell Thursday. The S&P 500 index fell 87 points to 1,270, and the Nasdaq fell 5 points to 2,643.

Markets in Britain, Germany and France fell slightly. And stocks in debt-troubled Italy, Greece and Spain fell more than 2 percent each. The euro has dropped to a 15-month low against the dollar.

In the U.S., the Labor Department is reporting another drop in the number of people seeking unemployment benefits. And a monthly hiring report from payroll processor ADP shows the private sector added 325,000 jobs last month.