Dow off 2.7 pct,Bear Attack

 Investors wary ahead of European bank repayments to ECB

* Consumer confidence falls in June on job woes

* Dow off 2.7 pct, S&P down 3.1 pct, Nasdaq off 3.9 pct

Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.

All but one stock in the S&P 500 ended lower as escalating doubts about the stability of Europe's banks roiled markets once again.

The S&P 500 had tumbled below its 2010 intraday low of 1,040.78 during the session, which analysts said could ignite further declines. The index closed at its lowest level since Oct. 30, breaking its closing low for the year at 1,050.47 -- another bearish signal for markets.

"Everybody is talking about 1,040, that it is the do-all, end-all, blow it up, end of the world, blood on the streets level. The market crashes, the S&P goes to 900," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co. in San Francisco.

Economically sensitive sectors such as materials, industrials and financials were among the hardest hit.

Source  http://www.reuters.com/article/idAFN2919511920100629?rpc=44

dow cloed in deep red

Index Value: 9,870.30 Trade Time: 4:02PM EDT Change:  268.22 (2.65%) Prev Close: 10,138.52 Open: 10,135.72 Day's Range: 9,811.92 - 10,135.80 52wk Range: 8,057.57 - 11,309.00