US stocks mixed as European debt crisis festers

DANIEL WAGNER AP Business writer Published:

Stocks are mixed despite a hopeful turn in the European debt crisis: a victory for pro-Europe parties in a Greek election.

Borrowing costs for Spain surged Monday, reflecting fear among investors that Spain will default on its debts. That makes it more likely that Spain will require a bailout. Only a week ago, Europe unveiled a bailout of Spain's banks.

Greek voters on Sunday elected a party that wants to continue a program of international bailouts that require deep spending cuts. Any optimism about the election was brief as traders fretted about Spain and Italy's weak finances.

The Dow is down 23 points at 12,744 shortly before noon EDT. The S&P 500 index is down a point at 1,342. The Nasdaq composite index is up 11 at 2,883.

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