Wall Street closes lower as European Union finance ministers fail to agree to raise a ceiling for the region's bailout. Mark Lasseigne has your market report in today's Acadiana Business Index.

The Dow Jones Industrial Average lost 100 points to 11,766.

Trading volume was light as many investors were closing their books for the year.

S&P financials tumbled 2.3%, by far the session's worst performer. Bank of America fell below $5 for the first time since March 2009, as investors worried about the outlook for the global economy.

Caterpillar said that global sales of its construction and mining machinery rose 30% in the three months to the end of November.

Grocery-store operator BI-LO agreed to take Winn-Dixie Stores private in a deal that values the grocery chain at about $560 million.

And, Georgia-based lender, Money Tree, filed for Chapter 11 bankruptcy protection after thousands of its borrowers fell behind on their payments.

Light, sweet crude closed at $93.88 a barrel on the New York Mercantile Exchange.

And gold settled at $1,597 an ounce.