FOX Business: The Power to Prosper

The markets dropped sharply in a late-day selloff as optimism over the eurozone's support for a Spanish banking rescue turned to gloom over the deepening debt crisis. 

Today's Markets

The Dow Jones Industrial Average fell 143 points, or 1.1%, to 12411, the S&P 500 dipped 16.7 points, or 1.3%, to 1309 and the Nasdaq Composite slid 48.7 points, or 1.7%, to 2810.

After posting the best week of the year, the Dow snapped a four-day winning streak on Monday. The stocks taking the heaviest selling were found among the financial, materials, technology, consumer discretionary, industrial and energy sectors. Meanwhile, traditional defensive plays like utilities and telecommunications firms were spared the brunt of the selling. 

Energy futures sustained heavy losses as well. 

The benchmark crude oil contract traded in New York slid $1.40, or 1.7%, to $82.70 a barrel. Wholesale New York Harbor gasoline fell 1.1% to $2.66 a gallon.