Stocks cut losses on Tuesday after a media report of growing opposition from Greek lawmakers to Prime Minister George Papandreou's bid for a referendum on the EU bailout plan for Greece.
The Dow Jones industrial average dropped 232.68 points, or 1.95 percent, to 11,722.33. The Standard & Poor's 500 Index dropped 28.70 points, or 2.29 percent, to 1,224.60. The Nasdaq Composite Index dropped 65.11 points, or 2.43 percent, to 2,619.30.
(Editing by Kenneth Barry)