Stocks dive as second quarter ends

Stocks finished lower after a late-session retreat, as investors piled out of a downbeat quarter that ended with Wednesday's session.

The major indexes had teetered on either side of breakeven throughout the day as investors weighed a weak jobs report against an improved European bank outlook that provided earlier support.

But all three indexes turned down sharply as the session ended. The Dow Jones industrial average (INDU) lost 96 points, or 1%, to finish at 9,774.02. The S&P 500 (SPX) closed down 1% at 1,030.71 and the Nasdaq (COMP) lost 1.2% to end at 2,109.24.

All three indexes' closing figures were the lowest since late 2009. Declines were broad-based, with 29 of the 30 Dow components ending lower Wednesday. Diversified manufacturer 3M (MMM, Fortune 500) managed to hold an 0.6% gain. (more)