Chipotle (CMG) slumped 22%, the biggest drop on the S&P 500, after the restaurant operator’s quarterly revenue came in shy of expectations and customer traffic slowed.
In Europe, markets were broadly lower on concerns that Spain could be forced into a full-fledged sovereign bailout to ease the country’s debt burdens. The Valencia region of Spain said it plans to seek aid from the Spanish government, and a downward revision to Spanish growth expectations further compounded investor worries. The Stoxx Europe 600 fell 1.4%, while Spain’s IBEX-35 index tumbled 5.8%. The yield on benchmark 10-year Spanish bonds rose back above 7%.
Crude-oil futures fell 1.3% to settle at $91.44 a barrel, while gold futures added 0.2% to settle at $1582.50 a troy ounce. The U.S. dollar rose against the euro but lost ground against the yen. The yield on the 10-year U.S. Treasury bond fell to 1.459%.