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Stocks slide on worries that Greece could be close to default; Tech stocks up on deal news
NEW YORK (AP) ' Stocks are falling on worries that Greece could be edging closer to default. The yield on the 10-year Treasury reached another record low as investors piled into U.S. government debt.
The Dow Jones industrial average fell 55 points, or 0.5 percent, to 10,936 at 11:41 a.m. It had been down as many as 135 points shortly after the opening bell.
The S&P 500 index fell 4, or 0.3 percent, to 1,150.
Technology stocks fared better than the overall market following news of a semiconductor deal. The Nasdaq rose 7 points to 2,475.
Investors are worried that rating agencies may cut the credit ratings of French banks because of their holdings of Greek bonds. A downgrade of French banks could bring more instability to Europe's beleaguered financial system.