Stocks Sink on Fears of Asia Slowdown, Irish Debt

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are falling to their lowest level in a
month as worries mount over a slowdown in China and a debt crisis
in Ireland.

Asian markets led a global sell-off Tuesday after South Korea
raised interest rates and investors worried that China would follow
suit.

European officials scrambled to stop Ireland's debt troubles
from turning into another meltdown, six months after a bailout of
Greece.

According to preliminary calculations, the Dow Jones industrial
average is down 178, or 1.6 percent, at 11,024.

The S&P 500 is down 19, or 1.6 percent, to 1,178, while the
Nasdaq is down 44, or 1.8 percent, at 2,470.

Eight shares fell for every one that rose on the New York Stock
Exchange, where volume came to 1.3 billion shares.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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