BofA and Caterpillar Both Fall More Than 3%
Author: Donna Kardos Yesalavich</br></br>NEW YORK--Stocks fell, with Bank of America, Caterpillar and Alcoa among the decliners as investors continued to worry about European sovereign debt, while data on U.S. consumer spending also sparked concerns about the economic recovery.</br></br>The Dow Jones Industrial Average fell 115.48 points, or 1.16%, to 9816.49, its lowest close since Nov. 4. The Dow is now below the intraday low it hit during the May 6 "flash crash."</br></br>Bank of America was the Dow's worst performer, falling 52 cents, or 3.4%, to $14.83. Unit Countrywide Home Loans agreed to pay $108 million to settle federal charges it collected excessive fees from homeowners struggling to keep their homes. The bank didn't admit or deny the allegations.</br></br>Caterpillar slid 1.93, or 3.3%, to 55.83. Caterpillar exports to Europe, and investors are concerned about how its profitability may be impacted by currency translations given the euro's weakening against the dollar. Monday, the dollar gained 0.41% versus the euro to its highest level since March 2006.