Stocks turn sharply lower in late trading on announcement of BP investigations; Dow falls 113

Stocks turn sharply lower in late trading

NEW YORK — Stocks have taken another late-day dive after the announcement of a criminal probe into the Gulf of Mexico oil spill pounded energy stocks.

The Dow Jones industrial average is down almost 113 points Tuesday after Attorney General Eric Holder said the government is beginning civil and criminal investigations into the spill. Stocks in energy companies and oilfield service providers.

Trading was choppy. Stocks were little changed earlier as investors juggled worries about Europe’s debt problems with upbeat reports on U.S. manufacturing and construction.

The Dow Jones industrials are down 112, or 1.1 percent, at 10,024. The Standard & Poor’s 500 index is down 18, or 1.7 percent, at 1,070. The Nasdaq composite index is down 34, or 1.5 percent, at 2,222.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume came to a light 1.4 billion shares, in line with Friday.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

NEW YORK (AP) — Stocks took another late-day dive as energy stocks tumbled on expectations of federal investigations of the Gulf oil spill.

The Dow Jones industrial average fell about 120 points shortly before the close after Attorney General Eric Holder said the government was beginning civil and criminal investigations of BP PLC into the oil spill.