Banks and companies that rely on consumer spending led stocks broadly lower on Wall Street Tuesday, as the market gave back some of the big gains it made the past couple of weeks.

The S&P 500 fell 1.1%, snapping a five-day winning streak.

Stocks sank more across the Atlantic after the European Union said this year's recession will be deeper than earlier forecast.

Gold and silver prices rose, and the 10-year Treasury yield fell.