Dow slumps at the open as Greece deadline nears

JOSHUA FREED AP Business Writer Published:

Stocks in the U.S. are down more than 1 percent at the opening bell, following similar declines in Europe.

Big factors include weak economic news out of Europe and worries about Greece's debt crisis. Many investors in the U.S. are starting to believe the stock market has advanced too far, too fast this year.

The Dow Jones industrial average fell 143 points to 12,820 early Tuesday. The Dow has yet to close down 100 points or more any day this year.

The Standard & Poor's 500 index is down almost 15 points, to 1,349. The Nasdaq composite fell almost 31 points to 2,920.

France's main stock index fell 2.6 percent. Britain's FTSE lost 1.5 percent and Germany's DAX fell 2.5 percent.

Oil prices are down slightly.