Stocks fell in early trading on Wall Street on concern that the terms of a proposed bank bailout for the Mediterranean island nation of Cyprus could cause the euro crisis to flare up again. According to AP, the Dow Jones industrial average was down 36 points, or 0.2 percent, to 14,477 as of 10:18 a.m. (1418 GMT). The Dow fell as much as 110 points in the early going, then recouped some of its loss. The Standard & Poor's 500 index was down eight points, or 0.5 percent, to 1,552. The Nasdaq composite fell 17 points, or 0.5 percent, to 3,232. Cyprus is proposing a hefty levy on bank deposits as a condition for a national bailout. The proposal roiled international markets. The measures are stoking fears of bank runs in the other 16 nations that use the euro.
