Stocks Close Down As Investors Fret Over Bank Plan In Cyprus

NEW YORK (March 18, 2013)--Stocks closed moderately lower Monday on Wall Street as investors worried about a controversial proposal to seize money from depositors in Cyprus that they fear could set off another bout of anxiety over Europe's shared currency.

The Dow Jones industrial average fell 62 points, or 0.4 percent, to end the day at 14,452 Monday after dropping as much as 110 points in the early going, briefly turning positive in the afternoon and then falling back again in the last hour of trading.

The Standard & Poor's 500 fell eight points, or 0.6 percent, to close at 1,552.

The Nasdaq composite dropped 11 points, or 0.4 percent, to end at 3,237.

European markets also declined.

Three stocks fell for every two that rose on the New York Stock Exchange where volume was 3.1 billion shares, lighter than average.

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