A downward revision of U.S. economic growth in the third quarter sent stocks lower. Higher borrowing costs for Spain also renewed worries about Europe's debt crisis.
The Commerce Department reported that the U.S. economy grew at a 2 percent annual rate from July through September, down from the government's initial estimate of 2.5 percent. Economists had expected the figure to remain the same.
The Dow Jones industrial average lost 53.59 points, or 0.5 percent, to close at 11,493.72
The Standard & Poor's 500 index fell 4.94 points, or 0.4 percent, to 1,188.04.
The Nasdaq composite index fell 1.86, or 0.1 percent, to 2,521.28.
For the week to date:
The Dow is down 302.44, or 2.6 percent.
The S&P 500 is down 27.61, or 2.3 percent.
The Nasdaq is down 51.22, or 2 percent.
For the year to date:
The Dow is down 83.79, or 0.7 percent.
The S&P 500 is down 69.60, or 5.5 percent.
The Nasdaq is down 131.59, or 5 percent.