Following downturns in Asia and Europe sparked by concerns about national debts, U. S. markets tumbled hard Tuesday.

MarketWatch has reported that with debt in Greece at a crisis point, investors learned Tuesday that Spain, representing a far larger economy, was considering turning to the International Monetary Fund for a loan.

Stocks plummeted. Dow component Caterpillar Inc. dropped 4.63 percent, while Alcoa Inc. gave up 4.33 percent.

The Dow Jones industrial average, by close, at one point off 271 points, was down 225.06 points or 2.02 percent to 10,926.77.

The Standard & Poor's 500 lost 28.66 or 2.38 percent to 1,173.60. Loosing 74.49 or 2.98 percent, the Nasdaq composite index dropped to 2,424.25.

435 stocks advanced and 2,650 declined on a volume of 6.5 billion shares traded, on the New York Stock Exchange.

The benchmark 10-year Treasury note rose 23/32 to yield 3.604 percent.

From Monday's $1.3194, the euro fell to $1.2988. The dollar, against the yen, fell to 94.44 yen from Monday's 94.6 yen. (With Inputs from Agencies)