Bearish sentiment surfaced

Early gains were short-lived as enthusiasm over a $125 billion bailout for Spanish banks fizzled.Bank stocks were among the biggest losers, with Bank of America leading the Dow's drop. Investors are also cautious as they prepare for elections in Greece on Sunday. The concern is that anti-austerity political parties will win enough seats in parliament to derail the bailout program Greece secured earlier this year. Shares of technology bellwether Apple fell after the company's annual developers conference. The implied volatility inched higher as bearish sentiment surfaced.