US stocks fall on worries about Europe's economy

Published: Thursday, March 29 2012 12:00 a.m. MDT

NEW YORK — U.S. stocks are opening lower, as labor strikes in Spain remind investors that Europe's debt crisis remains unresolved.

The Dow Jones industrial average is down 63 points to 13,065 in early trading. The Standard & Poor's 500 is down eight points to 1,398. The Nasdaq composite index is down 15 to 3,090. This is the third straight daily decline.

In the U.S., weekly unemployment claims are down, but the government also says that more people than first estimated had filed claims in recent months.

In Europe, thousands of protestors flooded the streets of Madrid to protest cuts in government spending, underscoring the difficulty that Europe will face in reining in overgrown budgets.

Best Buy is down 7 percent after announcing it will close 50 stores.

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