Market Opens Lower on European Debt Worries

The U.S. equity market has opened lower on European debt worries, with all three major indexes in red. Investors are reacting to latest signs of trouble in the euro zone after a Financial Times Deutschland report claimed that Portugal is facing increasing pressure from other euro zone countries and the European Central Bank to accept an aid like Ireland. The news dragged the euro lower and pushed the U.S. dollar higher as investors rushed to the safety of the greenback.

The U.S. dollar is climbing against most of its major rivals. The rise in the U.S. dollar has also pushed gold prices lower, with Gold for delivery in December, which is the most actively traded contract, falling more than 1%.

With investors still concerned over the uncertainties in the euro zone, market has opened lower in the U.S. today. The Dow Jones opened lower at 11,183.50, the S&P 500 opened lower at 1,194.16 and the Nasdaq opened lower at 2,525.91. Market had rallied on Wednesday on the back of some positive economic data.

Del Monte Foods Company (NYSE: DLM) shares are among the most active in early trading today after the company agreed to a $4 billion acquisition offer that will take it private. The company will be acquired by a group of investors led by private equity firm Kohlberg Kravis Roberts. Shares if Del Monte Foods Company are currently up 4.28% to $18.76.