Stocks opened sharply lower on Wednesday on worries the Greece debt crisis may escalate and after a negative reading on New York State manufacturing underscoring the headwinds facing the economy.

The Dow Jones industrial average <.DJI> was down 110.80 points, or 0.92 percent, at 11,965.31. The Standard & Poor's 500 Index <.SPX> was down 12.14 points, or 0.94 percent, at 1,275.73. The Nasdaq Composite Index <.IXIC> was down 27.69 points, or 1.03 percent, at 2,651.03.

(Reporting by Ryan Vlastelica)