Stocks Closed Down on Euro Zone Jitters

U.S. stocks slid on Monday, giving the S&P 500 its worst day of the year, as renewed worries about the euro zone crisis caused the market to pull back from recent gains. The Dow Jones Industrial Average fell 129.71 points, or 0.93%, to 13,880.08. The S&P 500 lost 17.46 points, or 1.15%, to 1,495.71. The Nasdaq Composite lost 47.93 points, or 1.51%, to 3,131.17.

In Spain, Prime Minister Mariano Rajoy is mired in a corruption scandal amid calls for his resignation from the opposition Socialist Party. Yields on Spain’s 10-year government notes surged to above 5%.

Reforms implemented in Italy are viewed as at risk by the increasing popularity of Silvio Berlusconi, with the former prime minister a contender in general elections slated for later in the month.

Baidu Inc. (NASDAQ:BIDU) said late Monday that its fourth-quarter earnings rose 36% to $448.7 million, or $1.28 per U.S. share, from the year-ago period. Excluding share- based compensation, the Chinese Internet-search provider earned $1.31 a U.S. share. Revenue rose 42% to $1.02 billion from the same period last year.