US stocks : Dow off 0.9 pct
The S&P 500 was on track for its biggest daily percentage decline since Dec. 28. Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades.
"The market is due for a pullback. That's not really a surprise. I think people are looking for an excuse to make sales," said Michael James, senior trader at Wedbush Morgan in Los Angeles.
Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.
Data from the Commerce Department showed overall factory orders for December were below economists' expectations.
The Dow Jones industrial average was down 120.19 points, or 0.86 percent, at 13,889.60. The Standard & Poor's 500 Index was down 14.65 points, or 0.97 percent, at 1,498.52. The Nasdaq Composite Index was down 40.53 points, or 1.27 percent, at 3,138.57.
The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.
The S&P index is up 5.5 percent for the year, with nearly half
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