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.
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.