New York: US stocks tumbled at the open on Wednesday as a spike in Italian bond yields prompted fears the region’s debt crisis was spiraling.
The Dow Jones industrial average was down 252.40 points, or 2.07%, at 11,917.78. The Standard & Poor’s 500 Index was down 28.67 points, or 2.25%, at 1,247.25. The Nasdaq Composite Index was down 65.43 points, or 2.40%, at 2,662.06.
The CBOE Volatility Index VIX, Wall Street’s so-called fear gauge, jumped 13.9% to 31.30.