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US stocks fall on euro crisis fears, despite pact
US stocks fall early as fears about euro debt crisis persist, despite last week's fiscal pact
By The Associated Press

U.S. stock indexes are falling as fears linger about European countries' indebtedness, despite their fiscal pact last week.

World markets mostly fell, after soaring last week on optimism about a new treaty between European governments. Most agreed to closer budgetary ties, with a central European authority punishing nations that overspent. The lone holdout was Britain.

Concerns about the treaty's vagueness pushed European markets lower Monday. Spain's IBEX 35 fell 2.4 percent, Italy's FTSE MIB 3 percent. Both nations are squeezed by high borrowing costs because investors are nervous about their heavy debt loads.

The Dow is down 112 points, or 0.9 percent, at 12,071 shortly after the market opened. The S&P 500 is down 15, or 1.2 percent, at 1,240. The Nasdaq is down 35, or 1.3 percent at 2,611.

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