NEW YORK (AP) — Stocks fell in the United States and Europe on Tuesday as investors worried that a deal to cut Greece's national debt and hold off a possible financial crisis might fall through.
The Dow Jones industrial average was down 49 points at 12,660 just after 2 p.m. EST. It has risen or fallen less than 100 points in 13 straight trading sessions, the longest stretch of calm since March and April of last year.
Treasury prices rose Tuesday from their lowest levels this year on uncertainty about whether Greece will reach a deal with its creditors. That drew money back into safer investments.
In Europe, Greece's stock market index fell 5.5 percent. Stocks fell less than 1 percent in Germany, France and Spain.
A deal between the Greek government and the banks that hold Greek national bonds is considered crucial to the stability of the European financial system. Investors fear that if Greece can't pay its debt, it could trigger a panic.
"There's a lot of apprehension about the unknowns," said Brian Gendreau, market strategist for El Segundo, Calif.-based Cetera Financial Group. "It's not what people think they know about Europe. It's what they worry they don't know."
Greece is trying to get its creditors to swap Greek government bonds for new ones that have half the face value. But agreeing on a new interest rate has been a stumbling block. Greece faces an important bond repayment deadline in March.
In other trading, the Standard & Poor's 500 index was down 4 points at 1,312. The Nasdaq composite was down a point at 2,783.
There was little encouraging news in the latest round of U.S. corporate earnings reports.
Kimberly-Clark Corp., which makes Kleenex tissues, Huggies diapers and a number of other household goods, said rising costs pushed its net income down 19 percent in the fourth quarter. The stock fell 1.5 percent.
Chemical maker DuPont Co. said its fourth-quarter net income dipped as lower sales and higher costs overshadowed higher prices. The results still beat analysts' expectations and the stock was flat.
Coal producer Peabody Energy Corp. fell 4 percent after its forecast for the first quarter fell well short of expectations. The stock fell 4 percent.
Leading the pack of companies trading higher after reporting earnings, bag and accessories maker Coach Inc. gained 6.7 percent after quarterly net income rose almost 15 percent because of stronger holiday sales.
Among other stocks making large moves:
— Zions Bancorporation fell 8 percent, the most of any stock in the S&P 500, after the Salt Lake City bank reported income that fell far short of Wall Street's expectations. At least one analyst downgraded the stock.
— Hard disk drive maker Western Digital Corp. led gainers in the S&P after reporting that its results handily beat Wall Street's expectations. The stock jumped 6.4 percent.
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