The New York Times
Tue, May 25, 2010 -- 9:44 AM ET
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U.S. Stocks Open Sharply Lower; Major Indexes Slump 2%; Dow Below 10,000
Major stock indexes fell rapidly as trading opened in the
United States Tuesday, following sharp falls in Europe, as
traders worried about mounting tensions on the Korean
peninsula, spreading fallout from the debt crisis in Europe,
and new signs that the recovery in the American housing
market was faltering.
The Dow Jones industrial average fell more than 250 points,
2.5 percent, in the first few minutes of trading, falling
well below the psychologically significant 10,000 level, and
comparable falls were seen in the Standard & Poor's 500 and
Nasdaq composite, after major indexes in Europe fell 2.8
percent or more. The euro continued to lose value, trading at
some points for less than $1.22.
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