US STOCKS-Wall St Drops as Banks, Europe Weigh

Scott Eells/Bloomberg

Chuck Mikolajczak of Reuters reports that U.S. stocks dropped on Thursday on concerns about global banks, a surprise Supreme Court ruling upholding a landmark healthcare law, and pessimism about the ability of a European summit to ease the region’s debt crisis.

As EU leaders began the two-day summit, finance officials were working on urgent measures to diminish financial market pressure on Spain and Italy, which may be more difficult to bail out than smaller nations in the euro zone.

Recent statements from German Chancellor Angela Merkel have been at odds those of other European leaders on how to deal with the crisis.

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