U.S. stocks drop on Europe, corporate warnings

SAN FRANCISCO (MarketWatch) 
U.S. stocks extended declines into a fourth session Tuesday as investors dumped companies -- particularly industrials and other cyclical stocks -- on a spate of corporate warnings and headlines from Europe
The Dow Jones Industrial Average fell 83.17 points, or 0.7%, to 12,653.12, led by a 4.1% drop in Alcoa Inc. shares after the aluminum producer said late Monday it swung to a quarterly loss
The S&P 500 fell 10.99 points, or 0.8%, to 1,341.47
Industrials and materials were the worst performing
For both the Dow and S&P 500, it was the fourth session of declines
The Nasdaq Composite lost 29.44 points, or 1%, to 2,902.33, its third down day