Stocks slide as crisis in Europe deepens U.S. stocks fell early Friday, pushed down as problems in debt-riddled Europe came to a fore. It marked the end of three days of gains, the first such streak in more than a month. Google reported higher earnings and rose 3 percent, but that wasn't enough to make the market forget about Europe. Earnings reports for some other U.S. companies were marred by reminders of Europe's troubles and how they are spreading beyond its borders. Ingersoll-Rand, which makes Trane air conditioners, fell 4 percent even though it reported higher earnings. It noted that demand in Europe was falling, and it described its business in North America and Asia as "slowing." Staffing agency Manpower, which does most of its business in Europe, fell 4 percent after reporting an earnings decline. "One eye on Europe, but one eye on the strong earnings that have taken place this season," said Jeff Mortimer, director of investment strategy for Bank of New York Mellon's wealth management division. We're not in a vacuum. Spain was the epicenter of the latest European earthquake. Protestors took to the streets to voice their disapproval of government spending cuts. The Treasury minister announced that the recession would drag on into next year. And the region of Valencia announced that it needed help from the central government to pay its bills. Spain also got official approval from the other euro-using countries for a bailout for its struggling banks, but that wasn't enough to calm nervous investors. The Spanish government's borrowing costs shot above 7 percent, meaning the country could soon find itself unable to afford to borrow money. Spain's benchmark stock index plunged 6 percent. In Italy, Premier Mario Monti said the debt crisis had spread to his country and weakened trust in the euro, which is used by Spain, Italy and 15 other countries. Italy's borrowing costs also edged up, though they are still lower than Spain's. Bad financial news out of Spain and Italy is hardly new. What was just as troubling, if not more so, were the budding signs that the crisis is deepening even among Europe's relatively strong members. Germany announced that its economic growth likely slowed in the second quarter. In the U.K., the government said it had to borrow more than expected in June. In the U.S., all major stock indexes were down. By late morning, the Dow Jones industrial average fell 78 points to 12,864. The Standard & Poor's 500 fell eight to 1,369. The Nasdaq composite index lost 18 to 2,948. The decline was a U-turn after three days of gains, when investors decided to focus more on U.S. earnings reports than the crisis in Europe. About two-thirds of the companies that have reported second-quarter earnings so far have beat expectations. But events in Spain on Friday put the spotlight squarely back on Europe. In the U.S., Google was a bright spot. The company's earnings rose as it persuaded users to click more often on online ads. Microsoft posted a loss but investors seemed not to care; the stock was flat. Google rose $18.67 to $611.73. Microsoft edged down 20 cents to $30.47. The country's six megabanks - Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo - all fell. Investors are concerned about an array of recent challenges, including Moody's downgrades at all the banks except Wells, and job cuts at all the banks except JPMorgan. Among other stocks making big moves, Chipotle plunged 24 percent even though the burrito chain reported a big increase in profits. Analysts were disappointed that one measure of sales came in lower than expected, though it was still high by most restaurants' standards. Chipotle stock fell $95.19 to $308.25. The stock has soared in recent years, pleasing investors but also and raising questions about how long the streak can continue. Five years ago, Chipotle's stock was around $80. Advanced Micro Devices, the world's second-biggest chip maker, sank 13 percent after its earnings and revenue fell far short of what Wall Street analysts were expecting. The company also warned that revenue will continue to be hurt through the rest of the summer by weakness in the global economy and lower consumer spending. AMD's stock fell 60 cents to $4.26.