NEW YORK -- U.S. stocks tried to ignore negative economic news Tuesday, but by early afternoon all major indexes had reversed their optimistic start and lost ground.
The Dow Jones industrial average fell 38.27 or 0.36 percent to 10,451.15. The Nasdaq composite declined 11.99 or 0.58 percent to 2,073.20, and the Standard & Poor's 500 gave up 4.00 or 0.34 percent to 1,173.24.
Crude oil futures closed in on $50 per barrel, and the euro soared to an all-time high against the dollar, a big problem for European exporters to the United States.
The 10-year Treasury note shed 6/32, or $1.88 for each $1,000 invested, for a 4.2 percent yield.
The dollar rose to 103.50 yen, up from 103, while the euro rose to $1.3087 from $1.3044.
Tokyo's markets were closed for a holiday, but Hong Kong's blue-chip Hang Seng rose 222.69 points or 1.6 percent to 14,023.2. London's FTSE 100 closed at 4,742.40 after rising 9.30 or 0.20 percent.
