Stocks Sink as Worries About Spain Linger
NEW YORK (TheStreet) -- U.S. stocks shed more than 1% Monday, as initial excitement about Spain's bank bailout plan was usurped by worries about the country's increasing debt load.
Uncertainty surrounding the outcome of this weekend's elections in Greece also soured sentiment.
The Dow Jones Industrial Average dropped 143 points, or 1.1%, to close at 12,411.
The blue-chip index ran as high as 12,650 earlier in Monday's session and saw a 250-point intraday swing at its low of the day. Monday's decline snapped a four-day winning streak for the Dow, which last week enjoyed its best weekly performance on both a point and percentage basis since late December.The S&P 500 shed 17 points, or 1.3%, to close at 1309. The Nasdaq Composite was the biggest loser, falling nearly 49 points, or 1.7%, to close at 2810.
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