Stocks Tumble on Europe Fears

Richard Drew / AP Photo

Wall Street tumbled by its close on Monday, as investors worried over Europe’s future—and showed little optimism about the upcoming European Union summit. The Dow Jones industrial average dropped 138 points, NASDAQ was down 2 percent, and the S&P 500 was down 1.8 percent, meaning it will just about break even for June. “Last week we were very hopeful that they were moving forward and the meetings this week would have a positive ending,” said analyst Gail Dudack. “Today there is a lot of doubt the EU summit will generate anything substantial.”