U.S. markets fell Monday, with investors concerned about debt crises in Europe.
During the weekend, German Chancellor Angela Merkel rebuffed pleas from the leaders of Spain, France and Italy on the concept of providing direct financial assistance to banks, rather than to governments, which adds to their debt burdens.
In early afternoon trading, the Dow Jones industrial average shed 136.68 points, 1.08 percent, to 12,504.10. The Standard & Poor's 500 index gave up 20.58 points, 1.54 percent, to 1,314.44. The tech-heavy Nasdaq composite index lost 52.95 points, 1.83 percent, to 2,839.47.
The benchmark 10-year treasury note rose 17/32, pushing yields down to 1.618 percent.
The euro fell to $1.25 from Friday's $1.257. Against the yen, the dollar fell to 79.68 yen from 80.43 yen.
In Tokyo, the Nikkei 225 index shed 0.72 percent, 63.73, to 8,734.62.
In London, the FTSE 100 index lost 1.14 percent, 63.04, to 5,450.65.
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