NEW YORK (AP) — Stocks are falling at the opening of trading after more evidence pointed to a slowing global economy.
Germany’s economy stalled last quarter, dragging down growth for Europe. In the U.S., reports painted a mixed picture of the economy: The housing market remains weak, but industrial production rose last month at its fastest pace of the year.
Economic worries overshadowed strong profit reports from blue-chip U.S. companies. They may also erase hopes that the market had finally calmed down since Standard & Poor’s downgraded the U.S. credit rating less than two weeks ago.
The Dow Jones industrial average is down 68 points, or 0.6 percent, to 11.415. The S&P 500 index is down 9, or 0.8 percent, to 1,195. The Nasdaq composite is down 24, or 1 percent, to 2,531.