Stocks fell on Thursday after marketwide optimism over Warren Buffett's purchase of a stake in Bank of America evaporated and all S&P sectors except financials traded in negative territory.

The Dow Jones industrial average <.DJI> dropped 102.17 points, or 0.90 percent, to 11,218.54. The Standard & Poor's 500 Index <.SPX> dropped 9.71 points, or 0.82 percent, to 1,167.89. The Nasdaq Composite Index <.IXIC> dropped 25.12 points, or 1.02 percent, to 2,442.57.