US stocks drop on Europe worries

NEW YORK (AP) ? U.S. stocks are down at midday as worries about Europe have resurfaced.

Greece and its creditors have yet to sign off on a debt-reduction deal that was expected to be wrapped up this weekend. Greece needs the deal to secure a crucial installment of bailout money and avoid missing an upcoming bond payment.

Treasury yields sank to their lowest level this year Monday. The euro dropped 0.6 percent against the dollar, and European stocks sank.

At noon, the Dow Jones industrial average is down 82 points, or 0.7 percent, to 12,578. Bank of America has dropped the most among Dow stocks.

The S&P 500 is down 9 points, or 0.7 percent, to 1,307.

The Nasdaq composite is down 9 points, or 0.3 percent, to 2,807.