Stocks open lower on worries of Greek referendum
NEW YORK -- Stocks are opening sharply lower on worries that a planned Greek referendum could scuttle a plan reached last week to resolve Europe's debt crisis.
The dollar and U.S. government bonds are rising as traders move into assets seen as being safe.
The Greek government shocked financial markets with news that it would put its cost-cutting plan to a popular vote, which could lead the country to default on its debt.
Shortly after the opening bell Tuesday, the Dow Jones industrial average is down 250 points, or 2 percent, to 11,699. The S&P 500 is down 27, or 2.2 percent, to 1,225. The Nasdaq is down 79, or 2.9 percent, to 2,605.
Banks fell hard. Both Citigroup and Morgan Stanley are both down more than 9 percent.
- Violent House of Pies robbery linked to murder
- Shots fired during armored car robbery
- Neighbors upset over gun range near homes
- Four sent to hospital after gas leak at school
- Houston car thieves' wish list 44 min ago
- Truck slams into fast food restaurant
- Suspect arrested wearing Cookie Monster onesie
- 'Ban Bossy' campaign to empower girls to lead
- More Houstonians using METRO system
- Wife charged in hubby's New Year's Eve murder
- Woman accused of preying on elderly man
- Ex-teacher accused of sex with student
- Police: Miley fan sneaked into Omaha dressing room
- 'Burger King baby' now seeks birth mom on Facebook