U.S. stocks dropped at the open on Monday as Spain appeared closer to needing a sovereign bailout and fears grew that Greece may be approaching an exit from the euro zone.
The Dow Jones industrial average dropped 149.47 points, or 1.17 percent, to 12,673.10. The Standard & Poor's 500 Index lost 17.25 points, or 1.27 percent, to 1,345.41. The Nasdaq Composite Index fell 60.32 points, or 2.06 percent, to 2,864.98.
