Stocks are off to a slow start this morning. Consumer stocks are notably weaker after a slew of new anthrax exposures were reported over the weekend, raising the spectre of bio-terrorism in the U.S.

There is plenty of negative corporate news out this morning, too. Bethlehem Steel Corp., is seeking bankruptcy protection due to weak demand and competition from cheap imported steel. Siemens AG is cutting another 7,000 jobs in its networks and cell phone divisions, bringing its total for the year to about 17,000.

In the financial sector, Bank of America reported that its third-quarter profit fell 4%, due to an increase in bad loans. Dutch giant, ING Groep NV, said that its second-half profit will be down 6% due to insurance claims related to the September 11 attacks and weaker demand.

The weakness in ING is helping to torpedo European stocks generally, with some help from Axa SA and Aegon NV. The FTSE is down 70 points to 5076. The CAC 40 has shed 71 points to 4266. The DAX is holding up best, down a point to 4591.

Overnight in Asia, the Nikkei lost 180 points, dropping to 10453. The Hang Seng gave up 144 ticks to 10131.

In business news, Sun Life Financial Services of Canada Inc. has signed a definitive agreement to sell its UK asset management subsidiary to Credit Suisse Asset Management for an undisclosed price.