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NEW YORK (
TheStreet) -- U.S. stocks finished Monday sharply lower as enthusiasm waned for
Spain's bank bailout plan.
Coming off its best weekly performance of 2012, the
Dow Jones Industrial Average dropped 143 points, or 1.14%, to close at 12,411. The blue-chip index hit a session low of 12,398 just ahead of the closing bell.
S&P 500 fell nearly 17 points, or 1.26%, to finish at 1309 and the
Nasdaq Composite lost close to 49 points, or 1.7%, to settle at 2810.
Breadth within the Dow was negative with 26 of the 30 components posting losses. Drug company
Merck(MRK) finished Monday flat.
Leading the Dow lower were
Bank of America(BAC - Get Report),
Shares of Bank of America fell 3.7% to $7.28. The company announced a new 10-year, $50 billion environmental program with the goal of lowering the its use of natural resources and environmental impact.
The stock has risen 30.94% year to date but is now down 28% since peaking above $10 in late March.
Hewlett-Packard fell 3.51% to $21.40. HP's stock has fallen 16.93% year to date.
In tech sector news Monday,
its Worldwide Developer's Conference in San Francisco.
Shares of Caterpillar lost 2.75% to $85.19. The industrial stock has lost 5.97% year to date.
The Dow components hitting multi-year
highs on Monday included:
Walt Disney(DIS - Get Report),
Verizon(VZ - Get Report) and
AT&T(T - Get Report).
Shares of Walt Disney peaked at $46.63 - a new all-time high -- during Monday's session. The stock's 52-week low of $28.19 was set on Oct. 4.
Disney's shares ticked down 44 cents, or 0.95%, to close at $45.80. The stock has risen 22.13% year to date.
Verizon shares climbed to an intraday high of $42.95, their best level in more than four years. The stock's 52-week low of $32.28 was set on Aug. 9.
The stock closed up 12 cents, or 0.28%, at $42.56. The stock has climbed 6.08% year to date.
Shares of AT&T surged as high as $35 on Monday, their best level since July 2008. The stock's 52-week low of $27.29 was set on Sept. 12.
AT&T's shares added 4 cents, or 0.12%, to close at $34.59. The stock has risen 14.38% year to date.
Written by Alexandra Zendrian in New York.
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