Worries about the sovereign debt situation in Europe also returned after Spain reported a 0.3% decline in gross domestic product for the first quarter, a performance that was actually a bit better than expected but still pushed the country into recession territory. The report came as Standard & Poor's slashed its credit ratings for 11 Spanish banks, referring "potentially negative implications" from the downgrade of the country last week. The Dow Jones Industrial Average gave back 15 points, or 0.1%, to close at 13,213. The S&P 500 dipped 5 points, or 0.4%, to settle at 1398, and the Nasdaq dropped by 23 points, or 0.7%, to finish at 3046.
NEW YORK ( TheStreet) -- Stocks finished modestly lower Monday, marking the first monthly decline in 2012, as shaky U.S. economic data dominated the headlines.