Markets dropped sharply after Greece’s Prime Minister Papandreou called for a popular referendum on a new aid-and-debt deal for Greece. Papandreou’s announcement caught many by surprise, and comes just days after European leaders announced a series of decisions aimed at stemming the spread of Europe's widening debt crisis.
And bank stocks fell after MF Global Holdings filed for bankruptcy. Last week, the company's debt was downgraded to junk on concerns about its holdings of European debt.
Among stocks in focus, Humana rose 5.6% after reporting third-quarter earnings that exceeded forecasts. Honda's profit dropped by over a half in the July-September quarter as the yen's surge and sluggish sales in the U.S. and Japan squeezed the bottom line. Shares fell 8.1%.