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US: Stocks drop amid worries of strong dollar

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[NEW YORK] US stocks opened lower on Tuesday amid worries over the strong dollar, reversing the strong performance of the prior day as the volatility of last week looked set to continue.

Five minutes into trade, the Dow Jones Industrial Average was at 17,858.10, down 137.62 points (0.76 per cent).

The broad-based S&P 500 fell 16.26 (0.78 per cent) to 2,063.17, while the tech-rich Nasdaq Composite Index dropped 40.87 (0.83 per cent) to 4,901.56.

Analysts cited concerns about the strong US dollar, expectations for higher US interest rates and ongoing worries about the eurozone's negotiations with Greece for the market weakness.

AFP

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