US markets fell Tuesday as analysts said financial firms may report more losses tied to the credit crunch and sub-prime mortgage crisis, the dpa reported.
"It's going to be like a long, slow car crash to work through the housing situation," Joseph Veranth of Dana Investment Advisors told Bloomberg financial news. "We're still in the middle of it."
The blue-chip Dow Jones Industrial Average dropped 139.88 points, or 1.2 per cent, to 11,642.47. The broader Standard & Poor's 500 Index lost 15.73 points, or 1.2 per cent, to 1,289.59. The technology-heavy Nasdaq Composite Index slid 9.34 points, or 0.4 per cent, to 2,430.61.
The US currency slipped to 67.01 euro cents from 67.13 euro cents on Monday, and to 109.23 Japanese yen from 110.13 yen.