Greece debt worries send stocks down sharply

NEW YORK (AP) — Stocks are falling sharply in early trading and bond prices are rising as investors become more concerned about the debt crisis in Greece.

Thousands of people gathered in the streets of Athens today to protest government cutbacks required to avoid a debt default. Demonstrators hurled rocks at riot police, who responded with tear gas. Credit ratings agency Moody’s also said it may downgrade its ratings of France’s three largest banks because of their exposure to Greek debt.

Shortly after the opening of trading, the Dow Jones industrial average is down 108 points, or 0.9 percent, at 11,967. The Standard & Poor’s 500 index is down 12, or 0.9 percent, at 1,276. The Nasdaq composite index fell 27, or 1 percent, to 2,651.