U.S. stocks finished lower on Monday, with all three major indexes falling more than 1 percent, as investors worried that Europe's debt crisis could spread to Italy, one of Europe's largest economies. In world markets, European stocks ended lower, with the declines led by the CAC 40 in France falling 2.4 percent. Asian markets ended mixed, as the Hang Seng in Honk Kong fell 1.7 percent and the Shanghai Composite rose 0.2 percent. Traders worried that the fiscal problems facing troubled EU members such as Greece, Portugal, and Ireland may be spreading to larger economies in the monetary union, including Italy and Spain. Meanwhile, China reported a $22.3 billion trade surplus in June, up from a $13.05 billion surplus in May. But the pace of China's robust export growth slowed slightly to 17.9 percent in June from 19.4 percent in May. The U.S. dollar rose versus the euro and versus the yen. Light sweet crude oil for August delivery fell $1.05 to $95.15 a barrel on the New York Mercantile Exchange. Gold futures rose $7.60 to $1,549.20 an ounce. The Dow Jones industrial average fell 151.44, or 1.2 percent, to 12,505.76. Bank stocks Bank of America and J.P. Morgan, along with Hewlett Packard, were among the worst performers on the index. The broader Standard & Poor's 500 index fell 24.31, or 1.7 percent, to 1,319.49. The technology-heavy Nasdaq composite index fell 57.19, or 2.0 percent, to 2,802.62.
