US stocks were mixed as markets opened on Tuesday amid concern over Europe's deepening debt crisis, which investors feared was engulfing Italy and Spain.
The Dow Jones Industrial Average gained 10.52 points (0.08 percent) to stand at 12,516.28 in the first half-hour of trading.
The broader S&P 500 edged down 0.40 point (0.03 percent) to stand at 1,319.09, while the tech-heavy Nasdaq Composite fell 12.86 points (0.46 percent) to 2,789.76.
Wall Street's muted opening stood in contrast to sell-offs in London, Paris and Frankfurt, driven by worries that the eurozone's debt crisis was spreading to Italy and Spain and endangering the continent's banks.
European bank stocks have also been rattled by the prospect of getting bad marks in the latest round of stress tests, the results of which are to be published Friday.
"Participants continue to worry about Italy and about the results of the most recent stress tests," said David Campione, an analyst with Briefing Research.
On Wall Street, shares of Bank of America fell 0.1 percent in early trading while JPMorgan Chase -- which is due to report its second-quarter results on Thursday -- gained 0.5 percent.
Cisco gained 1.0 percent on news reports that the networking manufacturer was planning up to 10,000 job cuts, pleasing analysts who view the once-pioneering company as bloated and unfocused.
News Corp. gained 2.1 percent, making up some of the steep losses of recent days, after it announced a $5 billion share buyback program.
The company, Rupert Murdoch's media empire, has been shaken by fallout from a tabloid newspaper phone-hacking scandal in Britain.
Bond prices rose. The yield on the 10-year Treasury fell to 2.90 percent from 2.92 percent late Monday, while that on the 30-year bond dropped to 4.18 percent from 4.21 percent.
Bond prices and yields move in opposite directions.