Chevron, Bank of America: Dow Movers

NEW YORK (TheStreet) -- U.S. stocks dropped Wednesday amid deepening worries about Europe's debt troubles.

The Dow Jones Industrial Average fell 160.83 points, or 1.28%, to close at 12,419.86. The S&P 500 dropped 19.1 points to 1313.32 and the Nasdaq Composite lost 33.63 points to 2837.36.

Breadth within the Dow was negative with 29 of the 30 components posting losses.

The biggest decliners in the index Wednesday were Alcoa (AA), Bank of America (BAC), Caterpillar (CAT) and Chevron (CVX).

Shares of Chevron fell 2.6% to $97.63. The energy company held its annual shareholder meeting Wednesday and activists from a group called True Cost of Chevron Network planned on rallying with the goal of urging Chevron to change certain policies, according to The San Francisco Chronicle.

Chevron's stock has declined 8.24% year to date.

Caterpillar shares lost 2.53% to $90.18. On Wednesday, the construction and mining company agreed to sell its Bucyrus equipment line in South Africa and Botswana for $115 million to Barloworld. The heavy machinery maker is also dealing with a strike among workers at a plant in Joliet, Ill.

Caterpillar's stock ticked down 42 cents, or 0.46%, year to date.

Shares of Alcoa dropped 3.49% to $8.58. The stock has ticked down 7 cents, or 0.81%, year to date.

Bank of America shares lost 3.1% to $7.20. Bernstein Research said Wednesday that big banks such as B of A and JPMorgan Chase (JPM) are losing market share to their smaller counterparts.

The bank's stock has risen 29.5% year to date.

The only blue-chip stock finished higher was Intel (INTC). The stock ticked up 4 cents, or 0.15%, to $26.13.

--Written by Alexandra Zendrian in New York.



>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to: [e-mail].

>To follow the writer on Twitter, go to Alexandra Zendrian.