European Debt Worries - WAOW - Newsline 9, Wausau News, Weather, Sports

European Debt Worries

NEW YORK (AP) -- Europe's debt problem may be spreading, and the resulting search for safety is driving Treasury prices higher.

Stocks plunged in Italy and Spain Monday as investors feared those countries may become the next to be sucked into Europe's debt crisis. That prompted investors to shift money into lower-risk assets like U.S. government bonds.

The price of the benchmark 10-year Treasury note is up 94 cents per $100 invested in afternoon trading. The yield fell to 2.93 percent, the first time it has been below 3 percent in July. Bond yields fall when their prices rise.

Treasurys also rose on Friday, when the weakest hiring in nine months renewed worries about the U.S. economic recovery.

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