US Stocks Affected by European Economic Tremor News

On Monday morning, the US stocks got adversely affected at Wall Street after the news that European government debt continues to pile up despite severe budget cuts that have led to unrest across the continent.

At 11 am, New York time, the Dow Jones industrial average slashed down 134 points to 12,895. In US, the Standard & Poor's 500 index slashed down 16 points to 1,362 whereas, the Nasdaq composite slashed down 48 points to 2,952.

Major indexes in Europe slashed down very badly. France's CAC-40 index slashed down 2.9 percent, while, Germany's main index skidded even more, 3.6 percent. The European currency, Euro's rate slashed against the dollar.

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