Stocks hit their highs for the day in the first 90 minutes of trading, then drifted lower. The Dow Jones industrial average is ending the day down 101 points at 13,457.
The Standard & Poor's 500 index fell 15 points to 1,442, the worst percentage decline for the S&P since June 25. And the Nasdaq composite index fell 43 points to 3,117.
Among the worries for investors was the financial crisis in Spain. Protesters there are clashing with police near Parliament, and the nation's borrowing costs increased in an auction of its debt.
Declining stocks beat advancers by about 3-to-1. Volume was heavier than average, 3.6 billion shares.
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