US stocks have closed lower following new worries about Europe's debt problems.
Treasury prices rose and gold settled at a new high today as investors sought out safe assets.
European stocks fell following news reports that banks there may have more risky government debt on their books than was disclosed during "stress tests" earlier this year.
According to preliminary calculations, the Dow Jones industrial average is closing down 107 points, or one per cent, at 10,340 points.
The S&P 500 index lost 12 points, or 1.1 per cent, to 1091, while the Nasdaq fell 24 points, or 1.1 per cent, to 2208.
About three stocks fell for every one that rose on the New York Stock Exchange, where volume came to 830.3 million shares.
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