Stocks Opened Lower, Eye on European Fund Vote

U.S. stocks opened lower on Tuesday, ahead of a vote in Slovakia on increasing the size and abilities of Europe’s bailout fund. The Dow Jones Industrial Average lately fell 34.14 points to 11,399.04. The Standard & Poor’s 500 Index declined 3.41 points to 1,191.48. The Nasdaq Composite Index shed 2.18 points to 2,563.87.

Slovakia, one of the poorest of the euro zone’s 17 members, commanded the spotlight Tuesday, as its ruling party appeared likely to fall short of the votes needed to approve enhanced powers for the region ’s 440 billion euro ($600 billion) bailout fund.

Greece is likely to receive an 8 billion euro ($10.9 billion) tranche of aid in early November, its international lenders said Tuesday, allowing it to avert a near-term default.

The securities industry in New York City faces likely employment cuts on the scale of 10,000 jobs through 2012, according to a new report. If the estimates are correct, the losses through 2012 would more than give back all the 9,900 jobs that the industry added in the city between January 2010 and April 2011.

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