Major US stock indices lost ground Monday after Italian debt sold at euro-era record yields, dpa reported.
It took an interest rate of 6.29 per cent to sell Italian debt, the highest yield since Rome entered the eurozone, suggesting that Italy has not yet convinced creditors that it can avoid default.
A new government was named over the weekend in Rome, with an ambitious set of reforms planned to stabilize the country's finances and boost Italy's long-term economic stagnation.
The blue-chip Dow Jones Industrial Average lost 74.7 points, or 0.61 per cent, to 12,078.98. The broader Standard & Poor's 500 Index dropped 12.07 points, or 0.96 per cent, to 1,251.78. The technology-heavy Nasdaq Composite Index fell 21.53 points, or 0.8 per cent, to 2,657.22.
The US currency jumped against the euro to 73.36 euro cents from 72.73 euro cents on Friday. The dollar was off against the Japanese currency at 77.09 yen from 77.2 yen.