U.S. stocks begin lower

U.S. stocks opened lower Monday with investors losing any cheer from Greek-election results to concern about rising government bond yields in Spain. "The market has moved beyond Greece to Spain, which has both a government debt issue and a banking loan problem that is crippling its efforts to tap the capital markets at a reasonable rate," emailed Kevin Giddis, head of fixed-income capital markets at Raymond James Morgan Keegan. The Dow Jones Industrial Average DJIA -0.37%fell 39.28 points to 12,727.89. The S&P 500 Index SPX -0.32% shed 3.52 points to 1,339.32. The Nasdaq Composite COMP -0.06% declined 5.2 points to 2,867.60.