U.S. markets faltered Monday, with debt concerns in Europe outweighing a 0.5 percent rise in personal income.
Germany warned during the weekend that Greece needed to act on the fiscal discipline measures it has endorsed. Leaders in Europe were meeting to discuss tighter fiscal controls and the fate of a bailout program for Greece.
In Washington, the Commerce Department said incomes rose in December, but consumer spending was flat, falling less than 0.1 percent from November.
By close of trading, the Dow Jones industrial average lost 6.74 points or 0.05 percent to 12,653.72. The Standard & Poor's 500 index dropped 3.32 points or 0.25 percent to 1,313.01. The tech-dominated Nasdaq composite index shed 4.61 points or 0.16 percent to 2,811.94.
On the New York Stock Exchange, 1,113 stocks advanced and 1,903 declined on a volume of 3.3 billion shares traded.
The benchmark 10-year treasury note lost 1/32 to yield 1.851 percent.
The euro fell to $1.314 from Friday's $1.3219. Against the yen, the dollar fell to 76.38 yen from Friday's 76.71 yen.
In Tokyo, the Nikkei 225 index lost 0.54 percent, 48.17, to 8,793.05.
In London, the FTSE 100 index shed 1.09 percent, 62.36, to 5,671.09.
