
Dow Jones closed down 0.84 per cent on continuing concerns over euro debts crisis. Investors fear the Basel III capital requirements could hurt the financial industry.
S&P 500 ended down 1.17 per cent with financial shares falling 2 per cent while materials and telecom stocks fell over 1 per cent. All 10 sectors closed in the red.
The Nasdaq composite closed down 1.26 per cent