Dow at 12,263, down 117 points.
NEW YORK (AP) — Stocks are closing lower after Japan raised the
severity of its nuclear crisis and Alcoa Inc. reported
disappointing sales. A drop in oil prices pulled down energy
stocks.
Markets also fell in Asia and Europe after Japan said the crisis at
its crippled nuclear plant was as serious as the 1986 Chernobyl
accident.
The Dow Jones industrial average fell 118 points, or 0.9 percent,
to close at 12,264. That the largest drop since March 16, when
markets sank on fears of a nuclear meltdown in Japan.
The S&P 500 index fell 10, or 0.8 percent, to 1,314. The Nasdaq
fell 27, or 1 percent, to 2,745.
Three shares fell for every one that rose on the New York Stock
Exchange. Trading volume was 4.3 billion shares.
