Stocks started solidly in the red Tuesday morning as Warren Buffett's $44 billion bet on the health of the U.S. economy was overshadowed by a sharply stronger U.S. dollar and disappointing banking news out of Europe.

Today's Markets

As of 9:33 a.m. EDT, the Dow Jones Industrial Average sank 68.17 points, or 0.70%, to 9718.63, the S&P 500 fell 6.79 points, or 0.65%, to 1036.09 and the Nasdaq Composite sank 16.41 points, or 0.81%, to 2032.72. The consumer-friendly FOX 50 dropped 5.82 points, or 0.76%, to 762.25.

The early weakness on Wall Street fits into the back-and-forth pattern of trading in recent days, with the volatile markets alternating between gains and losses. The markets were also taking a cautious approach ahead of a report on factory orders due out shortly after the opening bell.

Market sentiment could be boosted by billionaire Buffett, whose Berkshire Hathaway (BRK) holding company unveiled a $44 billion deal to buy the rest of railroader Burlington Northern Sante Fe (BNI) that it doesn't already own.