The Dow Jones Industrial Average fell sharply in early trading on Tuesday, dropping below the 11,000 point mark amid fears about the health of the eurozone. In early trades, the Dow fell 241.46 points (2.17 percent) to 10,910.37. The Nasdaq composite was down 77.98 points (3.12 percent) to 2,420.76 and the Standard & Poor's 500 index was down 28.91 points (2.40 percent) to 1,173.35. The drop eroded Monday's strong gains as investors rushed to safe-haven dollar and US bonds. 'Stocks are under pressure in morning action, bogged down by euro-zone contagion fears and uncertainty whether Greece will be able to enact austerity measures amid resistance among the Greek population,' said analysts at Charles Schwab. 'Treasuries are higher in some flight-to-quality buying.' The euro hit 12-month lows, glancing the 1.30 dollar level, and treasuries rose sharply. Stocks were down across the board with stocks as diverse as eBay and Credit Suisse down over five percent. 'The stock market has come under a stiff bout of broad-based selling pressure that has put all 10 major sectors into the red,' said Briefing.com analysts. The Dow's industrial and oil and gas components were hit hardest as those stocks also came under pressure from concerns about drilling in the Gulf of Mexico after a massive oil spill there. ExxonMobil shares were off 2.33 percent and Chevron shares were down 3.33 percent. Other factors also fed in to the sell off. 'A slowdown in Chinas purchasing managers index and doubt spreading that European officials are doing enough' also contributed, said Scott Marcouiller of Wells Fargo. The bad news from the eurozone overshadowed positive economic news about the world's largest economy. Factory orders for March unexpectedly rose 1.3 percent, the Department of Commerce said. Pending home sales also unexpectedly rose 5.3 percent in March, the National Association of Realtors reported. 'As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up,' said Lawrence Yun, the organization's chief economist. 'The data hasn't really done much to lift the stock market from its doldrums,' said Briefing.com analysts. 'Instead, stocks continue to trade only slightly above their early morning lows amid widespread weakness.' 