US stocks slip on overseas manufacturing data

Associated Press
In this Feb. 17, 2012 photo, specialist Peter Giacchi, center, works on the floor of the New York Stock Exchange in New York. Stock futures are slipping after the latest manufacturing report out of China which suggests that one of the world’s biggest economies may be slowing. The U.S. will release data later Monday, April 2, 2012, on its own manufacturing sector, as well as a report on construction spending. (AP Photo/Richard Drew)
.

View photo

In this Feb. 17, 2012 photo, specialist Peter Giacchi, center, works on the floor of the New York Stock Exchange in New York. Stock futures are slipping after the latest manufacturing report out of China which suggests that one of the world’s biggest economies may be slowing. The U.S. will release data later Monday, April 2, 2012, on its own manufacturing sector, as well as a report on construction spending. (AP Photo/Richard Drew)

Stocks are opening lower after reports from China and Europe suggested that global economic growth is slowing.

A private survey of Chinese exporters released Monday fell to its lowest average reading in three years during the first quarter.

New European data showed that unemployment in the 17 countries that use the euro has risen to 10.8 percent. That's the highest since the launch of the euro in 1999.

The Dow Jones industrial average fell 26 points to 13,185. The Standard & Poor's 500 index fell 2 to 1,406. The Nasdaq composite index fell 7 to 3,084.

As traders sold stocks, they bought Treasurys, sending the yield on the 10-year Treasury note down to 2.18 percent from 2.24 percent earlier Monday.

View Comments (0)