NEW YORK: US stocks slid at the open on Wednesday, May 5 as continued jitters about Greece's sovereign debt crisis and its potential to spread overshadowed data showing jobs growth in the U.S. private sector.
Rating agency Moody's said it was reviewing Portugal's key rating for a possible downgrade.
The Dow Jones industrial average lost 89.79 points, or 0.82 percent, to 10,836.98. The Standard & Poor's 500 Index fell 12.88 points, or 1.10 percent, to 1,160.72. The Nasdaq Composite Index dropped 37.90 points, or 1.56 percent, to 2,386.35.
Meanwhile, light crude oil prices fell 4% to trade under $80 a barrel on Wednesday, as the dollar rallied sharply against the euro on worries over euro-zone debt, rising violence in Greece and expectations of a gain in crude inventories. - Agencies