Stocks fell Friday, giving the market another losing week, after poor earnings reports from two major technology companies suggested that businesses invested less in new technology as the economic recovery slowed.
Fears of a spreading European debt crisis also weighed on markets. Italian bank stocks plunged and trading in some of them was halted after Moody's warned that it might downgrade their credit ratings.
The Dow Jones industrial average fell 115.42 points, or 1 percent, to 11,934.58.
The Standard & Poor's 500 index fell 15.05, or 1.2 percent, to 1,268.45.
The Nasdaq composite fell 33.86, or 1.3 percent, to 2,652.89.
For the week:
The Dow is down 69.78, or 0.6 percent.
The S&P is down 3.05, or 0.2 percent.
The Nasdaq is up 36.41, or 1.4 percent.
For the year to date:
The Dow is up 357.07, or 3.1 percent.
The S&P is up 10.81, or 0.9 percent.
The Nasdaq is up 0.02 points, or less than 0.1 percent.