U.S. Stocks Drop as Concern Grows About European Debt Crisis

U.S. stocks fell, sending the Standard & Poor’s 500 Index down for the fourth time in five days, as Ireland’s bailout failed to ease investor concern that Europe’s debt crisis may spread to the southern region.

The S&P 500 rallied in the final 90 minutes of trading, almost wiping out a 1.3 percent drop, as the measure bounced off a level watched by chart analysts. Hewlett-Packard Co. and Verizon Communications Inc. lost at least 1 percent, pacing declines in the Dow Jones Industrial Average. Visa Inc. sank 1.7 percent as an analyst said mobile-network operators may take market share. Wells Fargo & Co. and Bank of America Corp. led a rally in financial shares, gaining more than 1.6 percent.