Wall Street ends 1% down on Italy concerns

US stock indices closed the first session of the week lower after 

 the market was shut on Monday for a bank holiday, with Dow Jones, S&P 500 marking the worst performance in a month as financials took a big hit on concerns over the raging Italian political crisis and its impact on the euro zone financial stability. 

Earlier US data showed the S&P House Price Index rose 0.53%, down from 0.84% in February, and missing forecasts of 0.7%.

On a yearly basis, prices rose 6.8%, same as before and beating forecasts of 6.5%, as traders now await GDP and payrolls data later this week. 

An index tracking US consumer confidence rose to 128 in May from 125.6 in April, revised from 128.7, missing expectations of 128.00. 

Dow Jones fell 1.58%, or 391.64 points to 24,361.45, while Standard and Poor's 500 slid 1.16%, or 31.47 points to 2,689.86. NASDAQ Composite slid 0.50%, or 37.26 points to 7,396.59. 

Gold futures due on August 15 fell 0.30% to $1,305.10 an ounce from the opening of $1,309, while the dollar index rose 0.45% to 94.85 from the opening of 94.42, marking November 7 highs. 

US crude futures due on July 15 fell 1.58% to $66.81 a barrel from the opening of $67.88, while Brent futures due on Juyl 15 inched up 0.09% to $75.37 a barrel from the opening of $75.30.