Stocks look to be opening negatively today, as traders fear the U.S. recovery is weak. Big U.S. blue chips such as American Express Co., General Electric Co. and McDonald’s Corp. are all down. And, the U.S. dollar is slumping in currency markets too.

Corporate news is mixed this morning. U.S. retailing giant Walgreen Co. saw its third-quarter earnings increase 21%.

But on the downside, France Telecom SA had its credit rating cut to one level above junk by Moody’s Investors Service on fears that its debt levels remain overwhelming. And, advertising giant WPP Group PLC issued cautious comments about its business recovery this year.

Also, OPEC is reportedly planning to keep crude oil prices at US$25 a barrel by sticking to its existing output quotas.

In Europe, stocks are down heavily so far today. The FTSE is down 52 points to 4553. The CAC 40 has lost 106 points to 3693. And, the DAX is 103 points lower to 4129.

Overnight in Asia, markets opened their week on a positive note. The Nikkei gained 117 points to 10471 and the Hang Seng packed on 65 points to 10657.