Stocks tumble, worries over European debt

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Posted: Apr 23, 2012 3:23 PM
Updated: Apr 23, 2012 3:23 PM
Source: Associated Press

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Topics: stocks, europe, severe, debut, worrying

NEW YORK - Worrying news out of Europe is sending stocks sharply lower at the close of trading.

The Dutch government collapsed Monday, a day after French President Nicolas Sarkozy lost the first round of that country's presidential election.

A new report showed that European government debt is piling up despite severe budget cuts.

The Dow Jones industrial average lost 102 points to close at 12,927.

Wal-Mart Stores had the biggest drop of any Dow stock after a report said the company shut down an investigation into bribery by executives at its Mexican unit.

The Standard & Poor's 500 index lost 12 points to 1,367. The Nasdaq fell 30 points to 2,970.

Three stocks fell for every one that rose on the New York Stock Exchange.

Trading volume was light at 3.6 billion.

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