Stocks fall on worries about US broker, Europe

NEW YORK (AP) ? Banks are dragging the stock market lower as worries resurface about the European debt crisis and the broker MF Global.

The Dow Jones industrial average is down 125 points, or 1.1 percent, at 12,101 shortly after the opening bell Monday.

The S&P 500 is down 17, or 1.2 percent, at 1,268. The Nasdaq is down 38, or 1.4 percent, at 2,700.

The decline comes after the Dow closed out its fifth straight week of gains, its best winning streak since January.

Bank stocks dropped sharply in early trading after the New York Federal Reserve suspended MF Global Holdings from conducting new business as a Treasury bond dealer.

Trading in MF Global stock was halted. Bank of America Corp. and Citigroup Inc. were down more than 3 percent.