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Wall St ends lower on Cypriot bailout plan

by FP Staff  Mar 19, 2013 02:00 IST

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NEW YORK (Reuters) - U.S. stocks dropped on Monday, after a plan to tax bank accounts in Cyprus to help pay for the country's bailout stoked worries that it could threaten the stability of financial institutions in the euro zone.

The Dow Jones industrial average fell 62.05 points, or 0.43 percent, to end unofficially at 14,452.06. The S&P 500 lost 8.60 points or 0.55 percent, to finish unofficially at 1,552.10. The Nasdaq Composite dropped 11.48 points or 0.35 percent, to close unofficially at 3,237.59.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)