U.S. stocks fall as credit fears deepen

New York -- U.S. stock indexes fell Monday as credit fears deepened and recession talk increased as the U.S. Federal Reserve auctioned $20 billion to boost bank lending.

The Dow Jones industrial average tumbled 50.07 or 0.38 percent to 13,289.78 in mid-morning trading. The broader Standard & Poor's 500 Index lost 6.28 or 0.43 percent to 1,461.67.

The technology-heavy Nasdaq Composite Index fell 20.18 or 0.77 percent to 2,615.56.

Japan's Nikkei 225 stock index finished down 264.72 points, or 1.71 percent, at 15,249.79.

The benchmark 10-year U.S. Treasury note rose 14/32 to yield 4.19 percent and the 30-year bond increased 26/32, yielding 4.612 percent.

The U.S. dollar rose to 113.23 yen from 112.22 yen in New York late Friday. The euro slipped to $1.4387 from $1.4625.

Copyright 2007 by United Press International.