Global stocks knocked by political turmoil in Europe
US stocks fell on Monday as political turmoil in Europe cast doubts on the euro zone's ability to push through measures to end its debt crisis and as Wal-Mart sank following a report it stymied a bribery probe.
The Dow Jones industrial average was down 102.09 points, or 0.78 percent, at 12,927.17. The Standard & Poor's 500 Index was down 11.59 points, or 0.84 percent, at 1,366.94. The Nasdaq Composite Index was down 30.00 points, or 1.00 percent, at 2,970.45.
European shares fell to a three-month low in brisk volume and braced for a bumpy ride as worsening global economic conditions and political uncertainty in France and the Netherlands threatened to deepen the euro zone's crisis.
The pan-European FTSEurofirst 300 index fell 24.32 points, or 2.3 percent, to 1,021.76, a level not seen since mid-January, having traded 123.2 percent of its 90-day volume average.
in Asia, Japan's Nikkei share average dipped after financial leaders' pledge to raise the size of the IMF's firewall failed to ignite risk appetite, and as investors grew cautious ahead of Bank of Japan and US Federal Reserve policy meetings this week.The benchmark Nikkei finished down 0.2 percent at 9,542.17 after hitting a high of 9,636 in mid-morning trade, as investors sold off index futures and bought up five-year Japanese bonds on the back of an article saying the Bank of Japan would begin purchasing bonds with longer maturities.
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