US stocks drop as S&P 500 posts second-biggest loss of 2012
U.S. stocks fell, with the Standard & Poor’s 500 Index posting this year’s second-biggest decline, as demand dropped at a Spanish bond auction and SanDisk Corp.’s lower forecast dragged down technology shares. The S&P 500 slumped 1 percent to 1,398.92 at 4 p.m. New York time, according to preliminary closing data. It retreated the most since March 6, when the benchmark index plunged 1.5 percent in its worst loss of the year. The Dow Jones Industrial Average slipped 124.35 points, or 0.9 percent, to 13,075.20.