Stocks fell on Friday after ratings agency Fitch downgraded Spain's credit rating, unsettling investors already worried ahead of a European summit on Sunday that is aimed at shoring up the region's financial sector.

The Dow Jones industrial average <.DJI> dropped 16.61 points, or 0.15 percent, to 11,106.72. The Standard & Poor's 500 Index <.SPX> fell 8.69 points, or 0.75 percent, to 1,156.28. The Nasdaq Composite Index <.IXIC> slid 31.20 points, or 1.24 percent, to 2,475.62.

(Reporting by Edward Krudy; Editing by Jan Paschal)