Wall Street drops on Italy, Saudi Arabia worry

U.S. stocks fell more than 1 percent on Thursday as the European Commission issued a warning regarding Italy`s budget and concerns mounted over the possibility of strained relations between the United States and Saudi Arabia, denting investors` appetite for risk.

The Dow Jones Industrial Average <.dji> fell 327.23 points, or 1.27 percent, to 25,379.45, the S&P 500 <.spx> lost 38.32 points, or 1.36 percent, to 2,770.89 and the Nasdaq Composite <.ixic> dropped 154.18 points, or 2.02 percent, to 7,488.52.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)