NEW YORK – News that Spain’s economy entered another recession renewed worries about the fragility of Europe’s finances on Monday and nudged stocks lower.

The Spanish government said the country’s economy shrank 0.3 percent in the first three months of the year, the second straight quarter of contraction.

The worry is that Spain’s size could make it difficult to rescue. Its economy is roughly twice the size of the three other countries that have tapped the European Union for bailout loans added together – Greece, Portugal and Ireland.

A sharp drop in an index of Midwestern manufacturing and a slowdown in U.S. consumer spending last month added to worries that the U.S. economy is slowing down.

The market losses were broad. Eight of the 10 groups in the S&P 500 fell, led by industrial companies. Telecoms and energy rose. The dollar and U.S. Treasury prices edged up as investors parked money in low-risk assets.