Stocks are down in midday trading after worries about Europe returned.

The declines are erasing almost half of the market's big gain from Thursday.

At midday the Dow Jones industrial average is down 74 points at 12,912. The broader Standard & Poor's 500 index is down 11 points to 1,377. The Nasdaq composite is down 34 points to 3,021.

Yields rose on government bonds issued by Italy and Spain, meaning they'll have to pay more to borrow.

Stocks opened lower and extended their losses after a closely watched gauge of consumer confidence came in weaker than analysts expected.

Also, new data shows the Chinese economy grew at an 8.1 percent annual rate in the first three months of the year. That's the slowest pace in almost three years.