US stocks fell at the open after four weeks of gains, as a spike in the US dollar weighed on commodity prices and dried up bids on other risky assets.
The Dow Jones industrial average fell 99.15 points, or 0.81 percent, at 12,131.96. The Standard & Poor's 500 Index lost 12.79 points, or 1.00 percent, at 1,272.30. The Nasdaq Composite Index dropped 30.10 points, or 1.10 percent, at 2,707.05.
European shares fell early today as banks gave up some of last week's strong gains, and with miners hurt by falling metals prices after Japan intervened to stem the yen's rise against the dollar.
The FTSEurofirst 300 index of top European shares was down 1.2 percent at 1,006.15 points, after rising for five straight weeks, including a 4.1 percent gain last week as investors took heart from policymakers' plans to tackle the euro zone's problems.
The Nikkei stock average ended lower, giving up sharp intraday gains made after Japanese authorities intervened to curb persistent yen strength, as investors locked in profits on concerns the yen won't stay down for long.
The Nikkei rose as much as 1.1 percent to a three-month intraday high after the dollar spiked against the yen, and some investors used the opportunity to take profits.
