Stocks are closing moderately lower on Wall Street as investors worried that a controversial proposal to seize money from depositors in Cyprus could set off another bout of anxiety over Europe's shared currency.

The Dow Jones industrial average fell 62 points, or 0.4 percent, to 14,452 Monday. It had plunged as much as 110 points in the early going, briefly turned positive in the afternoon then fell back again in the last hour of trading.

The Standard & Poor's 500 fell eight points, or 0.6 percent, to 1,552. The Nasdaq composite dropped 11 points, or 0.4 percent, to 3,237.

European markets also declined.

Three stocks fell for every two that rose on the New York Stock Exchange. Volume was 3.1 billion shares, lighter than average.