Stocks closed Tuesday’s session with their largest losses this year as the Dow fell by more than 200 points on fears of a Greek debt default.

The Dow Jones Industrial Average fell 203.66 points, or 1.6 percent, to 12,759.15, its first loss of more than 200 points since Nov. 23.

The S&P 500 lost 20.97 points, or 1.5 percent, to 1,343.36, led by declines in financials and industrial stocks.

The Nasdaq Composite lost 40.16 points, or 1.4 percent, to 2,910.32.