US Stocks Slip at Open, Following World Markets

by Pallavi Gogoi
Wednesday Aug 22, 2012
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NEW YORK (AP) - U.S. stocks are opening modestly lower following drops in European and Asian stock markets.

The Dow Jones industrial average is off 31 points at 13,173 just after the opening bell. The Standard & Poor’s 500 index has slid four points to 1,409, and the Nasdaq index has given up nine points to 3,058.

European markets are lower as eurozone leaders meet with Greece, which has asked for more time to meet its debt reduction targets.

In the U.S., traders are awaiting data Wednesday on July sales of previously occupied homes at 10 am. At 2 p.m., the Federal Reserve will release the minutes from its rate-setting Open Market Committee’s last meeting. Investors will look for hints of upcoming moves to stimulate the economy.

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