Stocks fell Thursday as worries about the soundness of a European bank spooked U.S. investors, prompting them to sell off stocks and snap up less risky assets like gold and governments bonds.
Fears emerged overnight about the financial stability of Espirito Santo International, a holding company that is the largest shareholder in a group of firms, including the parent of Portugal's largest bank, Banco Espirito Santo.
The Dow Jones industrial average fell 70.54 points, or 0.4 percent, to close at 16,915.07.
The Standard & Poor's 500 index lost 8.15 points, or 0.4 percent, to 1,964.68.
The Nasdaq composite index fell 22.83 points, or 0.5 percent, to 4,396.20.
For the week:
The Dow is down 153.19 points, or 0.9 percent.
The S&P 500 is down 20.76 points, or 1.1 percent.
The Nasdaq is down 89.72 points, or 2 percent.
For the year:
The Dow is up 338.41 points, or 2 percent.
The S&P 500 index is up 116.32 points, or 6.3 percent.
The Nasdaq is up 219.61 points, or 5.3 percent.