Sell in May? They certainly did; stocks fall again

Traders work on the floor of the New York Stock Exchange Wednesday, May 30, 2012. Fearing a financial rupture in Europe, investors around the world fled from risk Wednesday. In the United States, where concerns about Europe have already wiped out most of this year's gains for stocks, major averages fell more than 1 percent. The Dow Jones industrial average was down as much as 184 points. European stocks lost even more, and the euro dropped below $1.24, its lowest point since the summer of 2010. (AP Photo/Richard Drew)

NEW YORK (AP) — Stocks are ending the day down, capping a dismal month that erased most of the market's gains from earlier this year.

The Dow Jones industrial average is ending down 26 points at 12,393. The Standard & Poor's 500 closed down three at 1,310. The Nasdaq composite index finished down 10 at 2,827.

On the New York Stock Exchange, about half the stocks advanced and half fell. Volume was slightly heavier than average, 4.3 billion shares.

May marks the Dow's first losing month since September, and its biggest monthly point loss since May 2010. The worry that Spain could need a bailout from other countries has rocked markets all week.

The government also released disappointing reports Thursday on unemployment claims and first-quarter economic growth.