Investors sought safety Tuesday as concerns about spiraling debt loads and disappointing corporate reports tarnished hopes for an economic recovery. Traders turned away from stocks and put money into safe-haven assets like the dollar and Treasurys. An earnings forecast from 3M Co. and a sales report from McDonald's Corp. disappointed investors. Questions about debt levels in places from Greece to the Middle Eastern city-state of Dubai added to investors' concerns.
The Dow Jones industrial average fell 104.14, or 1 percent, to 10,285.97.
The Standard & Poor's 500 index fell 11.31, or 1 percent, to 1,091.94.
The Nasdaq composite index fell 16.62, or 0.8 percent, to 2,172.99.
For the week:
The Dow is down 102.93, or 1 percent.
The S&P is down 14.04, or 1.3 percent.
The Nasdaq is down 21.36, or 1 percent.
For the year:
The Dow is up 1,509.58, or 17.2 percent.
The S&P is up 188.69, or 20.9 percent.
The Nasdaq is up 595.96, or 37.8 percent.