The S&P fell about 1 percent on Friday, moving closer to a key technical level, as worries about the Italian banking sector added to the uncertainty over passage of a Greek austerity plan.
The Dow Jones industrial average <.DJI> was down 99.22 points, or 0.82 percent, at 11,950.78. The Standard & Poor's 500 Index <.SPX> was down 11.36 points, or 0.89 percent, at 1,272.14. The Nasdaq Composite Index <.IXIC> was down 25.65 points, or 0.95 percent, at 2,661.10.
The S&P fell closer to its 200-day moving average -- a line the bulls have been able to hold since last September. The level was at 1,263.54.
(Reporting by Angela Moon)