Summary Box: Stocks fall as Europe crisis widens

AP News
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Posted: Nov 23, 2011 4:50 PM
Summary Box: Stocks fall as Europe crisis widens

STEEP DROP: U.S. stock indexes dropped more than 2 percent Wednesday on signs that the European debt crisis is spreading and China's factories are slowing down.

CRISIS SPREADS: Germany received too few bids to sell all the 10-year debt it offered at an auction. The weak demand suggests that Europe's debt woes are spreading to the region's strongest economy. Germany's economic strength is crucial to efforts aimed at stemming the crisis.

THE S&P 500: The Standard & Poor's 500 index fell 26 points, or 2.2 percent, to 1,162. The biggest losers were energy companies, materials makers and banks. The index had its sixth straight decline, the longest losing streak since August.