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Advertisement Escalating European debt fears send U.S. stocks slipping away Source: (AHN) Reporter: Diane Alter Location: New York, NY, United States Published: November 9, 2011 02:01 pm EST Topics: Economy, Business And Finance, Market And Exchange, Economy, Business And Finance, Macro Economics, Stocks U.S. stocks sank Wednesday amid mounting fears that Europe's lingering debt crisis may be moving into an even more disastrous and dangerous zone. In early afternoon trading, the Dow Jones Industrial average was down 281 points, the Standard & Poor's 500 Index was off 32 points and the NASDAQ plunged 72 points. Investors both in the U.S. and abroad have been fixated on developments from Europe as the eurozone's sovereign debt crisis has spread and poses an ever-growing risk to the entire global financial system. The latest focus is on Italy with a growing national debt of $2.6 trillion. Every major sector of the Dow was down, but energy stocks took an especially hard hit while financials also took a beating. Gold fell $6.60 to $1,792 an ounce, as traders and investors look to raise cash anywhere they can, even selling their safe haven investments. Republish Email Facebook Digg Twitter Share Copyright © 2011 AHN - All rights reserved.Content including text, photos, videos, audio, graphics and logos may not be used for commercial purposes, reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium without permission and license from AHN. [ Close ] When publishing articles from AHN we require that you follow several simple rules and that you abide by our Terms and Conditions. You may: Use and display the provided article text on a website or blog. Under the following conditions: You may not republish the article(s) wholesale, automatically or systematically; articles must be republished individually. 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