July 11, 2011

Stock markets are opening sharply lower amid fresh fears about the global economy and ahead of the start of earnings season.

The Dow Jones industrial average is down 119 points, or 0.9%, at 12,537, in opening trading. The Standard & Poor’s 500 index fell 14, or 1.0%, at 1,330. The Nasdaq composite shed 29, or 1.0%, at 2,830.

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