NEW YORK (AP) -- Stocks are falling sharply in early trading as investors fixate on worrisome corporate earnings that are raising fears of a deep and painful recession.
While reduced strains in world credit markets have eased some investors' nervousness about the economy, market anxiety remains high and is being fed by this week's earnings reports.
Some companies' fourth-quarter forecasts are offering a glimpse of the rough conditions that may lay ahead -- the insurer Travelers Cos. says it's lowering its outlook.
The Dow Jones industrial average is down 195 at the 8,837 level.
All the major indexes are down at least 1 percent.
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