NEW YORK (AP) — Stocks are closing lower, ending a three-day winning streak, as investors worry about Europe’s ability to contain its debt crisis.
Traders focused on remarks from German Chancellor Angela Merkel suggesting that the second Greek bailout package might have to be renegotiated. Several European leaders want banks to take bigger losses on Greek bonds. France and the European Central Bank oppose the idea.
The Dow Jones industrial average fell 180 points, or 1.6 percent, to close at 11,011. Bank of America fell the most, 4.9 percent.
The Standard & Poor’s 500 fell 24, or 2.1 percent, to 1,151. The Nasdaq fell 55, or 2.2 percent, to 2,492.
Five stocks fell for every one that rose on the New York Stock Exchange. Trading volume was average at 4.3 billion shares.