Stocks fell Monday as higher oil prices weighed on the market. Oil hit a two-year high early in the day, nearing $107 a barrel, after forces loyal to Libyan leader Moammar Gadhafi launched airstrikes against opposition fighters at an oil port. The market has been shaken in recent weeks by the uprising in Libya and its effect on oil prices. A sustained rise in the price of oil could hurt the economic recovery by raising manufacturing and transportation costs
The Dow Jones industrial average fell 79.85 points, or 0.7 percent, to 12,090.03.
The Standard & Poor's 500 index fell 11.02 points, or 0.8 percent, to 1,310.13.
The Nasdaq fell 39.04 points, or 1.4 percent, to 2,745.63.
For the year to date:
The Dow is up 512.52, or 4.4 percent.
The S&P is up 52.49 or 4.2 percent.
The Nasdaq is up 92.76, or 3.5 percent.