NEW YORK, N.M., Feb. 8 (UPI) -- U.S. markets moved lower Monday as sovereign debt issues in Europe added to investor worries about the strength of the economic recovery.
Government debt in Greece, Spain and Portugal have added to concerns about debt elsewhere, including Japan and the United States.
Investors also said a 10 percent market correction is overdue. "Every time you have a market run-up everybody goes, 'We need a 10 percent correction,' and as soon as the market drops 5 percent, you have everybody crying," said. Keith Springer, president of Capital Financial Advisory Services, The Wall Street Journal reported.
The Dow Jones industrial average, down 7.6 percent from Jan. 19, closed below 10,000 for the first time in three months, losing 103.84 points, 1.04 percent, to 9,908.39. The Standard & Poor's 500 lost 0.89 percent, 9.45 points, to 1,056.74. The Nasdaq composite index shed 0.7 percent, 17.07 points, to 2,126.05.
On the New York Stock Exchange, 1,077 stocks advanced and 1,957 declined on a volume of 4 billion shares traded.
The benchmark 10-year U.S. Treasury bill rose 1/32 to yield 3.569 percent.
The euro fell to $1.3651 from Friday's $1.3665. Against the yen, the dollar fell to 89.29 yen from Friday's 89.38 yen.
In Japan, the Nikkei 225 index lost 1.05 percent, 105.27 points, also falling below 10,000 points at 9,951.82.
In Britain, the FTSE 100 index added 0.62 percent, 31.41, to 5,092.33.