BUSINESS

US stocks fall sharply as investors worry about higher rates; euro slides against the dollar

03/10/2015 04:10 EDT | Updated 05/10/2015 05:59 EDT
NEW YORK, N.Y. - U.S. stock indexes fell sharply as fears of over possible interest rate increases by the Federal Reserve roiled financial markets around the globe.

The Dow Jones industrial average dropped 332 points, or 1.9 per cent, to 17,662 Tuesday.

The Standard & Poor's 500 fell 35 points, or 1.7 per cent, to 2,044. The Nasdaq composite lost 82 points, or 1.7 per cent, to 4,859.

The prospect of higher U.S. rates helped send the euro sharply lower against the dollar. The euro fell to its lowest level in 12 years.

Bond yields for several European countries hit record lows after the European Central Bank started its bond-buying program.

Barnes & Noble plunged 10 per cent after reporting earnings that fell far short of analysts' forecasts.

Oil fell $1.71 to $48.29 a barrel in New York.