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US stocks fall in early trade, following European markets, as talks over Greek bailout drag on
NEW YORK (AP) ' Stocks fell in morning trading Tuesday as investors once again turned their eyes to Greece, where talks dragged on over terms of new spending cuts.
The Dow Jones industrial average lost 44 points to 12,800 shortly after 10 a.m. Eastern. The Standard & Poor's 500 gave up 5 points to 1,339. The Nasdaq composite fell 10 points to 2,891.
Investors are monitoring talks in Athens over new cost-cutting measures being demanded by Greece's lenders. They're worried that the measures may not get passed in time to release the latest installment of emergency loans for the struggling country.
Markets in Europe and Asia also fell.
In the U.S., these stocks were among those making big moves:
' Yum Brands, which owns Taco Bell and KFC, jumped 4 percent. The company's income surged 30 percent in the fourth quarter on strong growth overseas and a turnaround in its Pizza Hut business in the U.S.
' Emerson Electric Co. lost 4 percent after the manufacturing and technology company said its first-quarter net income fell 23 percent as costs rose and sales took a hit from flooding in Thailand.
' Becton, Dickinson & Co., a medical technology company, fell 4 percent. The company's income fell 17 percent in the latest quarter on higher costs for raw materials and other expenses. The company also cut its 2012 earnings forecast.