S&P 500 drops by 1.49% on Monday

S&P 500 Index declined by 1.49% or 18.72 points on Monday and finished at 1,236.47 led by banking and energy stocks. US markets reflected Moody's announcement that majority of measures proposed in EU summit are similar to previous ones. Morgan Stanley lost 6.11%, Citigroup Inc. tumbled 5.39% and Goldman Sachs Group traded down 3.37%. Peabody Energy Corp. declined by 5.09%, Consol Energy Inc. dropped by 4.74% while Marathon Oil Corp. edged down 3.57%. On the upside were Walt Disney Co. and McDonald's Corp. adding 0.25% and 0.46%, respectively.