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US stocks slide as crisis in Europe deepens
Posted: Jul 20, 2012 8:39 AM by Associated Press
NEW YORK (AP) - U.S. stocks are opening lower, pushed down by troubling news about the debt crisis in Europe.
Bank stocks are down after many big lenders reported disappointing earnings. Tech stocks, including Google and Microsoft, are up. Google's earnings rose as it persuaded users to click more often on online ads.
In Europe, the countries that use the euro officially approved a bailout for Spanish banks. But Spain's major stock index is down 4 percent after the country predicted its recession will drag into 2013. Protestors took the streets to show disapproval for government spending cuts.
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