Slumping energy sector leads a broad sell-off in U.S. stocks

NEW YORK - The stock market endured its worst day in three weeks Tuesday as investors fretted over Greece's debt crisis and a surge in the U.S. dollar.

Those seeking safety bought U.S. government bonds.

The Dow Jones Industrial average lost 190.48 points, or 1 percent, to close at 18,041.54. The Nasdaq composite fell 56.61 points, or 1.1 percent, to 5,032.75. The Standard & Poor's 500 index lost 21.86 points, also 1 percent, to close at 2,104.20.

Only 32 companies in the S&P 500 posted gains.

Investors remained concerned about Greece's ability to repay its debts. The country might miss a payment on June 5 if it fails to receive bailout funds from creditors, who are demanding that Greece make reforms to its economy. Talks to reach a deal resumed after a weekend break, but it was unclear whether an agreement could be reached in time.

Greece is precariously close to the edge this time. It owes 6.7 billion euros this month to investors and the International Monetary Fund and does not have the cash to pay it.

Meanwhile, the value of the U.S. dollar surged Tuesday, causing reverberations in several markets. The price of oil, gold, and other commodities that are priced in dollars dropped.

That, in turn, pushed down the stocks of companies that do business in those commodities, such as copper and gold miners, or do most of their business outside the U.S. Industrial, oil and gas, and material-sector companies all closed broadly lower.

Another big question mark is when the Federal Reserve will finally raise interest rates for the first time in almost a decade.

"If you think Greece is actually in its last throes in the eurozone, it's better to be safe and park your money in U.S. dollars and deal with the Fed's interest-rate increase down the road," said Quincy Krosby, a market strategist at Prudential Financial.

U.S. government bond prices rose sharply Tuesday, sending yields lower. The yield on the 10-year Treasury note fell to 2.13 percent, from 2.22 percent late Friday.

Benchmark U.S. crude fell $1.69 to close at $58.03 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell $1.80 to close at $63.72 in London.

In other energy-futures trading on the NYMEX, wholesale gasoline fell 5.6 cents to close at $1.998 a gallon. Heating oil fell 5.3 cents to close at $1.900 a gallon. Natural gas fell 6.5 cents to close at $2.822 per 1,000 cubic feet.

In metals trading, gold fell $17.10 to settle at $1,186.90 an ounce, silver fell 31 cents to $16.75 an ounce, and copper fell 3 cents to $2.78 a pound.