NEW YORK (AP) — Stocks are opening slightly lower for the third straight day as investors weigh the prospect that Italy, Europe’s third-largest economy, could be the next country unable to meet its debt obligations. Spain, Europe’s fourth-largest economy, also faces a budget crisis.
Government bond yields for Italy and Spain have shot up as investors lose confidence in the quality of their debt.
Meanwhile, international lenders have not yet confirmed terms for a financial rescue package for Greece. That reignited concerns that Greece could default.
The Dow Jones industrial average is down 6 points, or less than one percent, at 12,499 in early trading. The Standard & Poor’s 500 index is down 2, or 0.2 percent, at 1,317. The Nasdaq composite is down 4, or 0.4 percent, at 2,792.