Dow Jones tumbles 200 pts. right after Monday's open - FOX 10 News | fox10phoenix.com

Dow Jones tumbles 200 pts. right after Monday's open

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UPDATE: 10 AM, Monday

NEW YORK (AP) -- Dow Jones industrial average falls 200 points as worries deepen over China, higher US rates.

 

(AP) -- More signs of distress in China's economy and rising U.S. bond yields are weighing on U.S. stocks in early trading.
 
The Dow Jones industrial average fell 160 points, or 1.1 percent, to 14,639 in the first few minutes of trading Monday.
 
The Standard & Poor's index fell 24 points, or 1.2 percent, to 1,570. The Nasdaq composite fell 45 points, or 1.3 percent, to 3,312.
 
An increase in China's commercial lending rates brought new worries about China's finances. China's Shanghai Composite Index plunged 5 percent, its biggest loss in four years.
 
The selling also spread to Europe. France's index fell 1.8 percent, Germany's 1.2 percent.
 
In the U.S., the yield on the 10-year Treasury note jumped to 2.62 percent from 2.54 Friday, its highest level in almost two years.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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