Stocks are closing lower for the fourth day straight. Investors are disappointed that European leaders didn't offer more detailed plans for tackling the region's debt crisis.
Treasury Secretary Timothy Geithner says Europe has the financial wherewithal to deal with the region's crippling financial crisis and bolster the eurozone in the long-run.
There's some good economic news - the Labor Department reports weekly unemployment benefit applications dropped by 14 thousand, to a seasonally adjusted 374,000, the fewest since the week of May 19th.
Opponents of Europe's new budget-discipline pact and the eurozone's permanent rescue fund are asking Germany's highest court to issue injunctions blocking the plans.
French President Francois Hollande says the leaders of the 17 countries that use the euro are holding an unplanned meeting in the middle of the night to talk about emergency measures that might lower the borrowing rates of Italy and Spain.
Italy's prime minister has warned of a potential disaster for the European Union if its leaders don't cooperate and find a way to keep interest rates on Italy's national debt down.