Dow now down 89 points at midday, to 11,113.
NEW YORK (AP) — Broad stock indexes are down sharply in midday
trading as concerns grow that the European financial crisis will
spread.
Ireland requested financial assistance Sunday from the European
Union and International Monetary Fund.
It was the second time that the EU has come to the rescue of one of
the 16 countries that use the euro. Traders worry that Portugal and
Spain may also need bailouts in order to repay their debts, which
would could cause the value of the euro to fall. The euro is down
0.7 percent against the dollar.
The Dow Jones industrial average is down 86, or 0.8 percent, to
11,118. The S&P 500 is down 7, or 0.6 percent, to 1,192.
The Nasdaq composite index is up 1, or less than 0.1 percent, to
2,518.
