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— The Dow Jones industrial average fell 1.3 percent Monday after two big rating agencies criticized a deal last week between European leaders that is aimed at easing the region's debt crisis.
Fitch Ratings and Moody's Investors Service said the deal to bind Europe's budgets more closely will make little difference. Moody's said it will reconsider the ratings of all European nations in the first quarter of 2012.
The Dow closed down 162.87 points, or 1.3 percent, at 12,021.39.
The Standard & Poor's 500 index lost 18.72, or 1.5 percent, to close at 1,236.47.
The Nasdaq composite index dropped 34.59, or 1.3 percent, to close at 2,612.26.
For the year to date:
The Dow is up 443.88 points, or 3.8 percent.
The S&P is down 21.17, or 1.7 percent.
The Nasdaq is down 40.61, or 1.5 percent.
