US stocks head lower

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IOL wall street THE PHOTO HOLIC File image

New York - Investors are stepping back after a strong week on major US indexes.

The Dow Jones industrial average is down 27 points at 13,964.30

shortly after the opening bell Monday.

The Standard & Poor's 500 index slipped 1.3 points to 1,516.60 and the Nasdaq composite is down 0.9 points to 3,193.

With little in the way of indicators in the US and a light earnings schedule Monday, Europe is weighing on markets.

Greece's farmers launched a campaign of daily anti-austerity highway blockades Monday, as the conservative-led government insisted deep spending cuts are working.

European Union Central Bank President Mario Draghi says that if the euro continues to rise, the trading bloc's monetary policy could shift.

That could be damaging to US exporters. - Sapa-AP

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