By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) ? U.S. stocks on Monday fell for a third straight session as Europe?s debt troubles came back into play on renewed bailout talk involving Portugal.
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?European debt refinancing concerns resurfaced overnight in global bond and equity markets. Portugal appears to be the problem as that country deals with a major debt refinancing later this week,? Fred Dickson, chief investment strategist at Davidson Cos., wrote in a note.
The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 11,628, -46.66, -0.40%) �fell 44.84 points, or 0.4%, to 11,629.92, with 21 of its 30 components sliding, led by DuPont Co. /quotes/comstock/13*!dd/quotes/nls/dd (DD 48.61, -1.15, -2.31%) , down 2.6% after it agreed to acquire Danish foods-ingredient maker Danisco A/S for $5.8 billion excluding assumed debt. See more on the DuPont-Danisco deal.
Off the blue-chip index, Duke Energy Corp. /quotes/comstock/13*!duk/quotes/nls/duk (DUK 17.51, -0.28, -1.57%) � said it would buy Progress Energy Inc. /quotes/comstock/13*!pgn/quotes/nls/pgn (PGN 43.79, -0.93, -2.08%) �for $13.7 billion in stock. Read more on stock-swap merger that would lead to creation of U.S. utility giant.
The Standard & Poor?s 500 Index /quotes/comstock/21z!i1:in\x (SPX 1,268, -3.69, -0.29%) � declined 3.58 points, or 0.3%, to 1,267.92, with utilities hardest hit among its 10 industry groups.
The Nasdaq Composite Index /quotes/comstock/10y!i:comp (COMP 2,697, -6.04, -0.22%) �shed 5.47 points, or 0.2%, to 2,697.7.
For every five stocks that rose, nine fell on the New York Stock Exchange, where trading volume approached 372 million as of 12 p.m. Eastern. Wall Street?s retreat comes after both the Dow and S&P finished a sixth consecutive week higher.
On the New York Mercantile Exchange, benchmark oil for February delivery added $1.44 to $89.47 a barrel. See more on Alaskan pipeline interruption and the fallout for crude futures.
Gold futures added $3.2 to stand at $1,372.10 an ounce. Read more on the choppy trading in gold futures.
After the close, U.S. aluminum producer Alcoa Inc. /quotes/comstock/13*!aa/quotes/nls/aa (AA 16.51, +0.09, +0.55%) , part of the Dow industrials,�unofficially starts the fourth-quarter earnings season when it reports results.
?The aluminium industry has suffered since the beginning of the recession, but demand and prices have been rising,? wrote Dave Rovelli, managing director of equity trading at Canaccord Genuity.
On Wednesday, Portugal is scheduled to conduct a bond auction, with Spain and Italy expected to follow suit Thursday.
Finance ministers of the European Union are scheduled to meet next Monday in Brussels.
Kate Gibson is a reporter for MarketWatch, based in New York.
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