BUSINESS
03/18/2013 04:33 pm ET

Cypriot Bailout Plan Causes U.S. Stocks To Drop

NEW YORK, March 18 (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.

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