NEW YORK (AP) -- U.S. stocks are opening lower as more ominous signs emerge about the debt maelstrom in Europe.
The Dow Jones industrial average fell 40 points, or 0.3 percent, to 12,533 in the opening minutes of trading Wednesday.
The Standard & Poor's 500 index fell 6 points, or 0.5 percent, to 1,318. The Nasdaq composite fell 11 points, or 0.4 percent, to 2,832.
The stock market rallied Tuesday, despite the turmoil in Europe, after comments from a Federal Reserve official made investors hopeful that the central bank may pump more money into the U.S. economy.
Italy paid an interest rate of 3.972 percent in a sale of its 12-month bonds, up sharply from 2.34 percent a month ago. That's a sign that investors are wary about Italy's ability to repay its debt.