Wall Street falls at open after AIG loss : US Business

NEW YORK (Reuters) - Stocks dropped at the open on Friday, with the Dow briefly falling more than 1 percent early, after American International Group's record loss hurt financial shares and renewed fears of bad news from the credit crisis.

The Dow Jones industrial average <.DJI> was down 112.76 points, or 0.88 percent, at 12,754.02. The Standard & Poor's 500 Index <.SPX> was down 11.84 points, or 0.89 percent, at 1,385.23. The Nasdaq Composite Index <.IXIC> was down 19.28 points, or 0.79 percent, at 2,431.96.

Shares of AIG fell 5 percent to $41.86.

(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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