Stocks are falling sharply as concerns about the European debt crisis overshadowed a strong weekend of holiday sales.
The euro fell to a two-month low Monday and investors flocked to the safety of the dollar and Treasurys after the European Union agreed to provide rescue loans for Ireland.
The move is designed to shore up Ireland’s banks, but it does little to relieve investors’ concerns about other European countries, including Portugal and Spain.
The Dow Jones industrial average is down 143, or 1.3 percent, at 10,950. The Standard & Poor’s 500 index is down 13, or 1 percent, at 1,176, while the Nasdaq composite index is down 33, or 1.3 percent, at 2,501.