U.S. stocks plunge on uncertainty in Europe

Political uncertainty in debt-hobbled Europe spread to financial markets Tuesday and pushed stocks lower.

The Dow Jones industrial average was down almost 200 points at its low point for the day before recovering most of its loss to finish down 76. It was the average's fifth straight decline.

European indexes closed near their lowest levels in months, and the euro neared a five-month low against the dollar.

Prices plummeted for commodities like oil and copper that depend on the health of the world economy. The turmoil in Europe added to concerns about slower economic growth in China and weaker job creation in the United States.

A flurry of late buying helped the indexes recover from their earlier lows. The Dow closed down 76.44 points to 12,932.09. The Standard & Poor's 500 index fell 0.43 percent to 1,363.72. The Nasdaq composite index fell 0.39 percent, to 2,946.27.

Trading throughout the markets is growing more volatile as Europe's debt crisis "accelerates to a point where it's not really controllable with the sorts of Band-Aids they've used," said Daniel Alpert, managing partner at the investment bank Westwood Capital Partners Llc.-- AP