US stocks slide on Greece, US worries

US stocks sank in opening trade Tuesday amid worries about Greece's debt crisis and a US "fiscal cliff" of spending cuts and tax hikes at year-end expected to drag the economy into recession.

In the first five minutes of trade, the Dow Jones Industrial Average shed 49.53 points (0.39 percent) at 12,765.55.

The broad-market S&P 500 dropped 7.75 points (0.56 percent) to 1,372.28, while the tech-rich Nasdaq Composite skidded 24.82 (0.85 percent) to 2,879.43.

"The fiscal cliff concern hasn't gone away... (and) the concerns about Greece are still present," Patrick O'Hare at Briefing.com said in a client note.

"The only clear thing right now is that there is a lot of uncertainty and that there isn't a headline today so far that is the equivalent of a game-changer."

On Monday US stocks closed flat as investors weighed fiscal cliff fears and eurozone debt concerns.

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  • Currencies
    Currencies
    NamePriceChange% Chg
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    USDSGD=X
    1.4680-0.0003-0.02%
    EURSGD=X
    2.0773+0.0002+0.01%
    GBPSGD=X
    91.2313+0.0781+0.09%
    SGDJPY=X
    5.7439+0.0026+0.05%
    SGDHKD=X
    2.6959+0.0007+0.02%
    SGDMYR=X
    9,796.7305-3.3076-0.03%
    SGDIDR=X
    4.5963+0.0017+0.04%
    SGDCNY=X
    1.0447+0.0002+0.02%
    AUDSGD=X
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    1,186.90+0.10+0.01%
    GCM15.CMX
    16.75+0.01+0.05%
    SIN15.CMX
    68.69-2.56-3.59%
    ^XAU
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    HGN15.CMX
    58.37+0.34+0.59%
    CLN15.NYM
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    Z74.SI
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    G13.SI
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    BS6.SI
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    0.200.000.00%
    K22.SI
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    GJ8.SI
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