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US stocks open lower after European elections
Posted: May 7, 2012 8:45 AM by Associated Press
Updated: May 7, 2012 10:29 AM
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NEW YORK (AP) - Stocks have been under pressure so far today on Wall Street as investors consider how the results of the weekend elections in Europe will affect the plans to rein in spending there and keep the debt crisis from worsening.
But most markets in Europe have recovered from early losses and have turned higher -- with the exception of stocks in Greece.
Greek voters expressed their anger over crippling income cuts by punishing mainstream politicians, giving no party enough votes to govern alone and leaving the parliament split. The French ousted President Nicolas Sarkozy and elected Socialist Francois Hollande, who pledged "to finish with austerity."
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