BUSINESS

US stocks follow global markets lower on worries over possible US interest rate hikes

03/10/2015 12:02 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 hikes by the Federal Reserve roiled financial markets around the globe.

In Europe, renewed concerns Greece may run out of money also spooked investors Tuesday. The euro sank to a 12-year low against the dollar.

The Dow Jones industrial average fell 241 points, or 1.3 per cent, to 17,755 as of 11:45 a.m. Eastern time.

The Standard & Poor's 500 fell 25 points, or 1.2 per cent, to 2,054. The Nasdaq composite lost 67 points, or 1.4 per cent, to 4,875.

Barnes & Noble dropped 8 per cent after reporting earnings that fell short of analysts' forecasts.

The price of oil fell 85 cents to $49.16 a barrel.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.14 per cent.