Stocks ease in early trading; gold plunges

Stocks fall in early trading on Wall Street; gold plunges to a two-year low

Associated Press
Falling commodities give Dow worst day of the year
.

View photo

In this Friday, April 12, 2013, photo Trader Lewis Vande Pallen, right, works on the floor of the New York Stock Exchange. World stock markets mostly sank Monday April 15, 2013 as China's slower-than-expected economic growth and disappointing U.S. retail sales weighed on investor sentiment. (AP Photo/Richard Drew)

NEW YORK (AP) -- Stocks are opening lower on Wall Street following sharp drops in commodities prices and declines in European markets.

The Dow Jones industrial average was down 53 points at 14,811 shortly after the opening bell Monday, a decline of 0.4 percent.

The Standard & Poor's 500 index fell seven points to 1,581, a loss of 0.5 percent. The Nasdaq composite fell 12 points, or 0.4 percent, to 3,282.

Sprint soared 17 percent to $7.25 after the company agreed to be acquired by Dish Network for $25.5 billion.

European stock indexes were down about 1 percent. Asian stocks also fell.

Gold plunged to $1,400 an ounce for the first time since March 2011 as a sell-off in the metal continued from last week. Oil prices hit their lowest level since mid-December.

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