A late afternoon slide pulled stock indexes lower after the Federal Reserve held off on any new steps to boost the economy. The Fed cautioned that strains in global financial markets still pose a danger, a nod to Europe's debt crisis.
The Dow dropped more than 70 points in the last hour of trading. It had risen as high as 126 points earlier Tuesday after two strong auctions of European debt.
The Dow Jones industrial average fell 66.45 points, or 0.6 percent, to close at 11,954.94.
The Standard & Poor's 500 index fell 10.74 points, or 0.9 percent, to 1,225.73.
The Nasdaq composite fell 32.99 points, or 1.3 percent, to 2,579.27.
For the week:
The Dow is down 229.32 points, or 1.9 percent.
The S&P is down 29.46, or 2.4 percent.
The Nasdaq is down 67.58, or 1.3 percent.
For the year to date:
The Dow is up 377.43 points, or 3.3 percent.
The S&P is down 31.91, or 2.5 percent.
The Nasdaq is down 73.60, or 2.8 percent.