Cypriot Bailout Plan Causes U.S. Stocks To Drop

Stocks Fall On Cypriot Bailout Plan
In this Wednesday, Jan. 23, 2013, photo, traders work on the floor of the New York Stock Exchange. World stock markets mostly refrained from big moves Friday March 15, 2013 as traders waited for a report on U.S. industrial production. (AP Photo/Richard Drew)
In this Wednesday, Jan. 23, 2013, photo, traders work on the floor of the New York Stock Exchange. World stock markets mostly refrained from big moves Friday March 15, 2013 as traders waited for a report on U.S. industrial production. (AP Photo/Richard Drew)

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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