The market opened lower after a deal to rescue Greece and prevent a wider sovereign debt crisis was thrown into disarray and as Asian economic data reignited fears of a global slowdown.
The Dow Jones industrial average was down 231.59 points, or 1.94 percent, at 11,723.42. The Standard & Poor's 500 Index was down 26.57 points, or 2.12 percent, at 1,226.73. The Nasdaq Composite Index was down 56.46 points, or 2.10 percent, at 2,627.95.
(Reporting by Angela Moon; editing by Jeffrey Benkoe)