Economy, Standard & Poor's | featured news

A weaker forecast of economic growth in Asia is sending stocks lower in early trading on Wall Street. The Dow Jones industrial average is down 47 points at 13,563 shortly after the opening bell Monday morning. The Standard & Poor's 500 index fell seven points to 1,454 and the Nasdaq composite gave up 22 points to 3,113.

Stocks are opening lower on Wall Street after some gloomy economic data from Europe. Just after the opening bell, the Dow Jones industrial average is down 53 points at 13,526. The Standard & Poor's 500 index is down seven at 1,453, and the Nasdaq composite index is off 28 at 3,152.

Gloomy economic readings from three continents sent stocks skidding and spurred a bearish recommendation from Goldman Sachs, compounding losses in major benchmarks. The Dow Jones Industrial Average fell 166 points, or 1.3%, to 12658 in afternoon trading on Thursday. The Standard & Poor's 500 fell 21 points, or 1.5%, to 1334. The Nasdaq Composite ticked down 52 points, or 1.8%, to 2878, on course to snap a five-session streak of gains.

Italy's sovereign debt rating cut by Standard & Poor's, the latest move in a deepening and continuing European debt crisis.

Japan’s sovereign-rating outlook was cut to “negative” by Standard & Poor’s as the nation’s reconstruction needs following last month’s earthquake will likely add to what’s already the world’s biggest debt load.

Ratings agency Standard & Poor's downgraded two of the euro zone's most troubled member states, citing fears that the pair may have to restructure their debt after 2013.